Atria Investments Inc Cuts Stake in Pentair plc (NYSE:PNR)

Atria Investments Inc reduced its position in Pentair plc (NYSE:PNR) by 17.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,561 shares of the industrial products company’s stock after selling 4,175 shares during the quarter. Atria Investments Inc’s holdings in Pentair were worth $1,969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PNR. National Bank of Canada FI lifted its stake in shares of Pentair by 862.2% during the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock worth $43,212,000 after buying an additional 395,962 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Pentair by 67.4% during the fourth quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock worth $89,390,000 after buying an additional 357,523 shares during the period. World Investment Advisors LLC acquired a new stake in shares of Pentair during the third quarter worth $26,748,000. National Pension Service lifted its stake in shares of Pentair by 726.4% during the fourth quarter. National Pension Service now owns 296,554 shares of the industrial products company’s stock worth $29,845,000 after buying an additional 260,668 shares during the period. Finally, State Street Corp lifted its stake 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 worth $856,257,000 after buying an additional 259,922 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. KeyCorp reiterated a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Robert W. Baird boosted their target price on shares of Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Wolfe Research started coverage on shares of Pentair in a research report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 target price for the company. Finally, Citigroup decreased their target price on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $111.25.

Pentair Trading Down 1.9 %

Shares of Pentair stock opened at $88.15 on Monday. The firm has a 50-day simple moving average of $98.33 and a two-hundred day simple moving average of $98.74. The company has a market cap of $14.53 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. 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 (NYSE:PNR) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The business 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%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 earnings per share. As a group, equities analysts predict that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders 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 dividend yield of 1.13%. Pentair’s dividend payout ratio is currently 26.74%.

Pentair Company 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.