Sumitomo Mitsui Trust Holdings Inc. Sells 13,635 Shares of Pentair plc (NYSE:PNR)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Pentair plc (NYSE:PNR) by 3.0% in the fourth quarter, HoldingsChannel reports. The firm owned 446,794 shares of the industrial products company’s stock after selling 13,635 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Pentair were worth $32,486,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Assetmark Inc. grew its stake in shares of Pentair by 935.1% during the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 346 shares during the period. Quent Capital LLC grew its stake in shares of Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 213 shares during the period. IFP Advisors Inc grew its stake in shares of Pentair by 97.6% during the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 202 shares during the period. Baystate Wealth Management LLC bought a new position in shares of Pentair during the 3rd quarter valued at approximately $30,000. Finally, Operose Advisors LLC bought a new position in shares of Pentair during the 3rd quarter valued at approximately $34,000. 92.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PNR. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. The Goldman Sachs Group reiterated a “neutral” rating and set a $91.00 price objective on shares of Pentair in a research note on Friday, March 22nd. Bank of America upgraded Pentair from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $46.00 to $76.00 in a research note on Thursday, January 11th. KeyCorp boosted their price objective on Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Finally, BNP Paribas started coverage on Pentair in a report on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 price target on the stock. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.33.

Pentair Stock Up 0.1 %

Shares of PNR opened at $78.53 on Friday. The stock has a market capitalization of $13.04 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. Pentair plc has a 1 year low of $51.38 and a 1 year high of $85.81. The business’s 50 day simple moving average is $80.02 and its 200-day simple moving average is $71.51. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.65 and a quick ratio of 0.94.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.01. The business had revenue of $984.60 million for the quarter, compared to analysts’ expectations of $975.36 million. Pentair had a return on equity of 20.80% and a net margin of 15.17%. 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 firm earned $0.82 EPS. As a group, equities analysts expect that Pentair plc will post 4.2 earnings per share for the current fiscal year.

Pentair Announces Dividend

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

Pentair Profile

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.