CIBC Private Wealth Group LLC Lowers Stake in Pentair plc (NYSE:PNR)

CIBC Private Wealth Group LLC trimmed its holdings in Pentair plc (NYSE:PNR) by 2.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 189,887 shares of the industrial products company’s stock after selling 4,428 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Pentair were worth $18,888,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PNR. Glenmede Trust Co. NA acquired a new stake in Pentair during the 3rd quarter worth approximately $666,000. Public Sector Pension Investment Board raised its stake in shares of Pentair by 10.9% during the third quarter. Public Sector Pension Investment Board now owns 7,147 shares of the industrial products company’s stock worth $699,000 after purchasing an additional 700 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Pentair by 8.8% during the third quarter. Captrust Financial Advisors now owns 38,609 shares of the industrial products company’s stock worth $3,776,000 after purchasing an additional 3,129 shares during the period. Edgestream Partners L.P. purchased a new position in Pentair in the 3rd quarter valued at $3,525,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in Pentair by 381.8% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,225 shares of the industrial products company’s stock valued at $413,000 after buying an additional 3,348 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on PNR shares. Baird R W upgraded shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 25th. KeyCorp reaffirmed a “sector weight” rating and issued a $115.00 price objective on shares of Pentair in a report on Monday, January 6th. Robert W. Baird raised Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 target price for the company in a research note on Tuesday, March 25th. Barclays decreased their price target on Pentair from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Finally, Stifel Nicolaus cut their price objective on Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Pentair presently has an average rating of “Moderate Buy” and a consensus price target of $112.27.

Pentair Price Performance

Pentair stock opened at $87.52 on Tuesday. The firm has a market capitalization of $14.42 billion, a PE ratio of 23.40, a P/E/G ratio of 1.87 and a beta of 1.23. Pentair plc has a 52 week low of $72.63 and a 52 week high of $110.71. The firm’s 50-day simple moving average is $94.23 and its 200 day simple moving average is $98.82. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS 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 earned $0.87 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities research analysts predict that Pentair plc will post 4.77 EPS for the current fiscal 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 issued a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. Pentair’s dividend payout ratio (DPR) is 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.