Skandinaviska Enskilda Banken AB publ Sells 286 Shares of Pentair plc (NYSE:PNR)

Skandinaviska Enskilda Banken AB publ reduced its position in shares of Pentair plc (NYSE:PNR) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,738 shares of the industrial products company’s stock after selling 286 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Pentair were worth $5,227,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbour Investments Inc. grew its holdings in shares of Pentair by 10.7% during the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock worth $644,000 after purchasing an additional 636 shares during the last quarter. Moody National Bank Trust Division bought a new stake in shares of Pentair during the fourth quarter worth about $989,000. Algert Global LLC bought a new stake in shares of Pentair during the third quarter worth about $479,000. FMR LLC lifted its stake in shares of Pentair by 4.7% in the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after acquiring an additional 258,134 shares during the period. Finally, Pathstone Holdings LLC lifted its stake in shares of Pentair by 47.4% in the third quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock worth $1,944,000 after acquiring an additional 6,391 shares during the period. 92.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on PNR shares. Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. KeyCorp reaffirmed a “sector weight” rating and issued a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Pentair in a research note on Thursday, November 21st. Barclays lifted their price objective on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Citigroup dropped their price target on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $112.93.

Pentair Price Performance

Shares of PNR opened at $86.18 on Friday. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The business’s fifty day moving average is $96.80 and its 200 day moving average is $98.63. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The stock has a market cap 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 (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, topping analysts’ consensus estimates of $1.02 by $0.06. The company had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. Pentair’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.87 EPS. Sell-side analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be given 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 payout ratio is currently 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.