Sei Investments Co. Sells 3,682 Shares of Pentair plc (NYSE:PNR)

Sei Investments Co. reduced its stake in shares of Pentair plc (NYSE:PNR) by 5.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 58,589 shares of the industrial products company’s stock after selling 3,682 shares during the period. Sei Investments Co.’s holdings in Pentair were worth $4,492,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PNR. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Pentair in the 4th quarter worth approximately $2,908,000. State Board of Administration of Florida Retirement System boosted its holdings in Pentair by 5.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock worth $15,820,000 after buying an additional 8,966 shares during the period. Point72 Europe London LLP bought a new position in Pentair in the 4th quarter worth approximately $921,000. Cetera Investment Advisers boosted its holdings in Pentair by 222.8% in the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock worth $4,328,000 after buying an additional 34,959 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Pentair in the 4th quarter worth approximately $834,000. 92.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PNR has been the subject of several analyst reports. Stifel Nicolaus raised their price objective on shares of Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised their price target on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Barclays raised their price target on shares of Pentair from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group raised their price target on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.87.

Pentair Stock Performance

Pentair stock opened at $96.81 on Wednesday. The stock has a market cap of $16.02 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20. The firm’s fifty day moving average price is $87.97 and its 200-day moving average price is $83.04. Pentair plc has a fifty-two week low of $57.18 and a fifty-two week high of $98.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. On average, equities research analysts expect that Pentair plc will post 4.25 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Pentair Company 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.