Mackenzie Financial Corp Has $368,000 Stock Holdings in Pentair plc (NYSE:PNR)

Mackenzie Financial Corp trimmed its holdings in shares of Pentair plc (NYSE:PNR) by 17.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,055 shares of the industrial products company’s stock after selling 1,066 shares during the period. Mackenzie Financial Corp’s holdings in Pentair were worth $368,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB lifted its stake in Pentair by 191.8% in the 4th quarter. Nordea Investment Management AB now owns 70,424 shares of the industrial products company’s stock valued at $5,122,000 after purchasing an additional 46,290 shares during the last quarter. Vanguard Group Inc. lifted its stake in Pentair by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock valued at $1,287,364,000 after purchasing an additional 204,416 shares during the last quarter. Vest Financial LLC lifted its stake in Pentair by 31.7% in the 4th quarter. Vest Financial LLC now owns 450,602 shares of the industrial products company’s stock valued at $32,763,000 after purchasing an additional 108,560 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Pentair by 8.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 348,573 shares of the industrial products company’s stock valued at $25,299,000 after purchasing an additional 27,122 shares during the last quarter. Finally, Prudential PLC acquired a new stake in Pentair in the 3rd quarter valued at about $566,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PNR shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $91.00 target price on shares of Pentair in a research note on Friday, March 22nd. Mizuho raised their price objective 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. Oppenheimer raised their price objective on shares of Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. Northcoast Research upgraded shares of Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday, April 15th. Finally, UBS Group raised their price objective on shares of Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pentair has an average rating of “Moderate Buy” and a consensus target price of $89.93.

Pentair Stock Up 1.0 %

NYSE PNR opened at $79.96 on Friday. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. Pentair plc has a 1-year low of $53.88 and a 1-year high of $85.81. The company has a 50 day moving average of $80.45 and a 200-day moving average of $72.00. The company has a market cap of $13.27 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.37 and a beta of 1.20.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business earned $0.91 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities research analysts expect that Pentair plc will post 4.23 earnings per share for the current fiscal 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 1.15%. Pentair’s dividend payout ratio is currently 24.47%.

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.