Pentair plc (NYSE:PNR) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in Pentair plc (NYSE:PNR) by 5.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 322,259 shares of the industrial products company’s stock after selling 16,931 shares during the quarter. California Public Employees Retirement System’s holdings in Pentair were worth $23,431,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Lindbrook Capital LLC increased its holdings in shares of Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 154 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Pentair by 935.1% in the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 346 shares during the last quarter. Quent Capital LLC increased 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 valued at $29,000 after acquiring an additional 213 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Pentair by 97.6% in 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 last quarter. Finally, Baystate Wealth Management LLC purchased a new position in shares of Pentair in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Up 1.0 %

Pentair stock opened at $79.96 on Monday. Pentair plc has a twelve month low of $53.88 and a twelve month high of $85.81. The stock has a 50 day moving average of $80.45 and a two-hundred day moving average of $72.10. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.38 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. As a group, research analysts expect that Pentair plc will post 4.24 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. Pentair’s dividend payout ratio is currently 24.47%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citigroup increased their price objective on Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. Mizuho raised their price target on Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. TD Cowen raised their price target on Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Stifel Nicolaus raised their price target on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, KeyCorp raised their price target on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and an average price target of $89.93.

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.