Zurcher Kantonalbank Zurich Cantonalbank Has $46.31 Million Stock Holdings in Pentair plc (NYSE:PNR)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in Pentair plc (NYSE:PNR) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 460,107 shares of the industrial products company’s stock after selling 26,377 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pentair were worth $46,305,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PNR. National Bank of Canada FI raised its position in Pentair by 862.2% in 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 purchasing an additional 395,962 shares in the last quarter. Allianz Asset Management GmbH raised its position in Pentair by 67.4% in the fourth quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock worth $89,390,000 after purchasing an additional 357,523 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Pentair during the third quarter worth approximately $26,748,000. National Pension Service increased its holdings 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 in the last quarter. Finally, State Street Corp increased its holdings 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 in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Trading Down 3.7 %

Shares of NYSE PNR opened at $85.12 on Tuesday. The company’s 50 day simple moving average is $98.33 and its 200 day simple moving average is $98.74. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The firm has a market capitalization of $14.03 billion, a P/E ratio of 22.76, a P/E/G ratio of 1.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The business had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. During the same period in the prior year, the business posted $0.87 earnings per share. Pentair’s revenue was down 1.2% compared to the same quarter last year. On average, analysts predict that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 1.17%. Pentair’s dividend payout ratio (DPR) is presently 26.74%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PNR shares. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a report on Tuesday. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Oppenheimer raised their price objective on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Robert W. Baird raised their price objective on shares of Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $111.25.

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.