Pentair plc (NYSE:PNR) Shares Sold by Forsta AP Fonden

Forsta AP Fonden lowered 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 and Exchange Commission (SEC). The fund owned 96,200 shares of the industrial products company’s stock after selling 6,100 shares during the quarter. Forsta AP Fonden’s holdings in Pentair were worth $9,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PNR. Inspire Advisors LLC raised its stake in Pentair by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock valued at $794,000 after purchasing an additional 130 shares during the last quarter. Quarry LP raised its position in shares of Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after buying an additional 134 shares during the last quarter. Annex Advisory Services LLC lifted its stake in shares of Pentair by 2.9% in the fourth quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company’s stock worth $540,000 after buying an additional 151 shares in the last quarter. GAMMA Investing LLC boosted its position in Pentair by 5.7% during the third quarter. GAMMA Investing LLC now owns 2,923 shares of the industrial products company’s stock worth $286,000 after acquiring an additional 158 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Pentair by 14.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,337 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays raised their target price on shares of Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citigroup cut their target price on Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Mizuho upped their price objective on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, UBS Group raised their price target on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Pentair presently has a consensus rating of “Moderate Buy” and an average target price of $111.07.

Pentair Stock Up 1.8 %

Shares of NYSE:PNR opened at $103.51 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. Pentair plc has a fifty-two week low of $72.03 and a fifty-two week high of $110.71. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 1.67 and a beta of 1.21. The firm’s 50 day moving average price is $103.90 and its 200 day moving average price is $96.44.

Pentair Increases Dividend

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

Pentair 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.