Allspring Global Investments Holdings LLC Sells 316 Shares of Pentair plc (NYSE:PNR)

Allspring Global Investments Holdings LLC lowered its holdings in Pentair plc (NYSE:PNR) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,145 shares of the industrial products company’s stock after selling 316 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Pentair were worth $592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assetmark Inc. increased its holdings in 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 purchasing an additional 346 shares in the last quarter. IFP Advisors Inc grew its holdings 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 buying an additional 202 shares in the last quarter. Quent Capital LLC raised its position in Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after buying an additional 213 shares during the last quarter. Baystate Wealth Management LLC bought a new position in Pentair during the 3rd quarter valued at $30,000. Finally, Operose Advisors LLC purchased a new position in Pentair during the 3rd quarter worth $34,000. Institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

PNR opened at $79.20 on Friday. The firm has a 50-day moving average price of $80.27 and a 200-day moving average price of $71.84. Pentair plc has a twelve month low of $52.28 and a twelve month high of $85.81. The company has a quick ratio of 0.94, a current ratio of 1.90 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 1.49 and a beta of 1.20.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm earned $0.91 EPS. Pentair’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts expect that Pentair plc will post 4.2 EPS for the current year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. Pentair’s payout ratio is 24.47%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PNR shares. Royal Bank of Canada raised their price target on shares of Pentair from $101.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group boosted their target price on Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday. Oppenheimer increased their price target on Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. Northcoast Research raised Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Monday, April 15th. Finally, Stifel Nicolaus raised their target price on Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.93.

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.