Skandinaviska Enskilda Banken AB publ Decreases Holdings in Pentair plc (NYSE:PNR)

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Pentair plc (NYSE:PNR) by 0.5% in the 4th quarter, Holdings Channel reports. The fund owned 51,738 shares of the industrial products company’s stock after selling 286 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Pentair were worth $5,227,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP boosted its stake in Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares during the period. SJS Investment Consulting Inc. boosted its position in shares of Pentair by 753.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 294 shares during the last quarter. Eastern Bank raised its holdings in shares of Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock valued at $51,000 after buying an additional 300 shares in the last quarter. Friedenthal Financial purchased a new position in shares of Pentair during the 4th quarter valued at about $56,000. Finally, Spire Wealth Management purchased a new position in shares of Pentair during the 4th quarter valued at about $64,000. Institutional investors own 92.37% of the company’s stock.

Pentair Trading Up 2.6 %

Pentair stock opened at $86.18 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $96.80 and its two-hundred day simple moving average is $98.63. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The company has a market capitalization of $14.20 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.02 by $0.06. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The business had revenue of $972.90 million for the quarter, compared to the consensus estimate of $970.95 million. During the same period in the previous year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. 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. Shareholders of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair’s dividend payout ratio (DPR) is 26.74%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PNR shares. Wolfe Research assumed coverage on Pentair in a report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective on the stock. Stifel Nicolaus decreased their price target on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Robert W. Baird lifted their price target on Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. KeyCorp reaffirmed a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Pentair in a research note on Thursday, November 21st. Four investment 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.