Pentair plc (NYSE:PNR) Position Trimmed by Vestcor Inc

Vestcor Inc decreased its holdings in shares of Pentair plc (NYSE:PNR) by 39.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,285 shares of the industrial products company’s stock after selling 1,509 shares during the period. Vestcor Inc’s holdings in Pentair were worth $230,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Independent Advisor Alliance grew its position in shares of Pentair by 1.4% during the fourth quarter. Independent Advisor Alliance now owns 7,628 shares of the industrial products company’s stock worth $768,000 after acquiring an additional 103 shares during the last quarter. Farther Finance Advisors LLC grew its position in Pentair by 11.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,194 shares of the industrial products company’s stock valued at $120,000 after buying an additional 118 shares in the last quarter. Richardson Financial Services Inc. grew its position in Pentair by 16.1% in the 4th quarter. Richardson Financial Services Inc. now owns 916 shares of the industrial products company’s stock valued at $92,000 after buying an additional 127 shares in the last quarter. Quarry LP grew its position in Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after buying an additional 134 shares in the last quarter. Finally, Annex Advisory Services LLC grew its position in Pentair by 2.9% in the 4th quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company’s stock valued at $540,000 after buying an additional 151 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

PNR stock opened at $87.35 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Pentair plc has a one year low of $72.63 and a one year high of $110.71. The firm has a market capitalization of $14.40 billion, a PE ratio of 23.36, a P/E/G ratio of 1.87 and a beta of 1.23. The firm has a 50-day moving average of $96.34 and a two-hundred day moving average of $98.71.

Pentair (NYSE:PNR) last posted its quarterly 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 business had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. On average, analysts forecast that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders 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 dividend yield of 1.14%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio (DPR) is 26.74%.

Analyst Ratings Changes

PNR has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Pentair in a research report on Thursday, November 21st. Robert W. Baird upped their price target on shares of Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Wolfe Research began coverage on shares of Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price target for the company. Stifel Nicolaus cut their price target on shares of Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, KeyCorp reissued a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $112.93.

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.