Strs Ohio Trims Stake in Pentair plc (NYSE:PNR)

Strs Ohio lowered its holdings in Pentair plc (NYSE:PNR) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,490 shares of the industrial products company’s stock after selling 1,670 shares during the period. Strs Ohio’s holdings in Pentair were worth $2,144,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of PNR. Assetmark Inc. lifted its holdings in shares of Pentair by 935.1% during the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 346 shares during the last quarter. IFP Advisors Inc lifted its stake in Pentair by 97.6% during the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 202 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 213 shares in the last quarter. Baystate Wealth Management LLC bought a new position in shares of Pentair during the 3rd quarter valued at about $30,000. Finally, Operose Advisors LLC purchased a new position in shares of Pentair during the 3rd quarter valued at about $34,000. Institutional investors own 92.37% of the company’s stock.

Analysts Set New Price Targets

PNR has been the topic of a number of recent research reports. UBS Group increased their price target on shares of Pentair from $72.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Mizuho lifted their target price on shares of Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Stifel Nicolaus upped their price target on shares of Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Barclays increased their target price on Pentair from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.33.

Pentair Price Performance

Shares of Pentair stock opened at $78.53 on Friday. The company has a market cap of $13.04 billion, a PE ratio of 20.94, a P/E/G ratio of 1.50 and a beta of 1.20. The business has a 50 day moving average of $80.02 and a 200 day moving average of $71.45. Pentair plc has a 52 week low of $51.38 and a 52 week high of $85.81. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.62.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.86 by $0.01. The business had revenue of $984.60 million during the quarter, compared to analyst estimates of $975.36 million. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. As a group, equities research analysts forecast that Pentair plc will post 4.2 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, April 18th. This represents a $0.92 annualized dividend and a yield of 1.17%. Pentair’s payout ratio is 24.53%.

About Pentair

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.