Wells Fargo & Company MN Trims Position in Pentair plc (NYSE:PNR)

Wells Fargo & Company MN trimmed its stake in Pentair plc (NYSE:PNR) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 265,394 shares of the industrial products company’s stock after selling 15,690 shares during the period. Wells Fargo & Company MN owned about 0.16% of Pentair worth $26,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP grew its position in shares of Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after buying an additional 134 shares during the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of Pentair by 753.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 294 shares during the period. Eastern Bank boosted its position in Pentair by 144.9% in the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock valued at $51,000 after buying an additional 300 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Pentair in the 4th quarter worth approximately $55,000. Finally, Friedenthal Financial purchased a new position in Pentair during the 4th quarter worth approximately $56,000. 92.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PNR shares. Baird R W raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 25th. KeyCorp reaffirmed a “sector weight” rating and issued a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Barclays cut their target price on Pentair from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Finally, Stifel Nicolaus reduced their price target on shares of Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.27.

Pentair Trading Up 1.5 %

PNR opened at $82.03 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. Pentair plc has a one year low of $72.63 and a one year high of $110.71. The company has a market cap of $13.52 billion, a P/E ratio of 21.93, a PEG ratio of 1.87 and a beta of 1.13. The business’s 50-day simple moving average is $89.54 and its 200-day simple moving average is $97.77.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. The company had revenue of $972.90 million during the quarter, compared to the consensus estimate of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. Pentair’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 earnings per share. As a group, equities research analysts expect that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Pentair’s dividend payout ratio is presently 26.74%.

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.