Forsta AP Fonden Cuts Stock Position in Pentair plc (NYSE:PNR)

Forsta AP Fonden decreased its position in shares of Pentair plc (NYSE:PNR) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,200 shares of the industrial products company’s stock after selling 6,100 shares during the period. Forsta AP Fonden owned 0.06% of Pentair worth $9,682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Quarry LP lifted its holdings in shares of Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 134 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in Pentair by 753.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock valued at $34,000 after buying an additional 294 shares during the last quarter. Blue Trust Inc. boosted its holdings in Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 327 shares in the last quarter. Eastern Bank grew its stake in shares of Pentair by 144.9% during the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 300 shares during the last quarter. Finally, Friedenthal Financial acquired a new position in shares of Pentair during the fourth quarter valued at about $56,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Up 1.8 %

PNR opened at $103.51 on Friday. The company has a fifty day moving average of $103.90 and a two-hundred day moving average of $96.44. The stock has a market capitalization of $17.10 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.67 and a beta of 1.21. Pentair plc has a fifty-two week low of $72.03 and a fifty-two week high of $110.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60.

Pentair Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be issued a $0.25 dividend. This is a boost from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a yield of 0.97%. Pentair’s dividend payout ratio is presently 25.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PNR. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Barclays boosted their price objective on shares of Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Wolfe Research began coverage on Pentair in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price for the company. KeyCorp reissued a “sector weight” rating and issued a $115.00 price objective on shares of Pentair in a report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Pentair in a report on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.07.

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.