Securian Asset Management Inc. Sells 214 Shares of Pentair plc (NYSE:PNR)

Securian Asset Management Inc. lowered its stake in shares of Pentair plc (NYSE:PNR) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,880 shares of the industrial products company’s stock after selling 214 shares during the period. Securian Asset Management Inc.’s holdings in Pentair were worth $894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp raised its position in shares of Pentair by 3.1% during the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock valued at $856,257,000 after buying an additional 259,922 shares during the last quarter. FMR LLC raised its position in shares of Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after buying an additional 258,134 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Pentair by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock valued at $389,800,000 after buying an additional 19,853 shares during the last quarter. Swedbank AB raised its position in shares of Pentair by 17.9% during the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock valued at $132,141,000 after buying an additional 205,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Pentair by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company’s stock valued at $101,653,000 after buying an additional 7,434 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PNR shares. KeyCorp restated a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research report on Monday, January 6th. Barclays boosted their price target on shares of Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Citigroup dropped their price objective on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Robert W. Baird lifted their price objective on shares of Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus dropped their price objective on shares of Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $112.93.

Pentair Stock Up 2.6 %

Shares of PNR opened at $86.18 on Friday. The firm has a market capitalization of $14.20 billion, a P/E ratio of 23.04, a P/E/G ratio of 1.87 and a beta of 1.23. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $96.80 and a 200-day moving average price of $98.63.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The firm had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. During the same period in the previous year, the firm earned $0.87 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. Equities research analysts expect that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio (DPR) 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.