Teachers Retirement System of The State of Kentucky Trims Stake in Pentair plc (NYSE:PNR)

Teachers Retirement System of The State of Kentucky lessened its stake in Pentair plc (NYSE:PNR) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,203 shares of the industrial products company’s stock after selling 619 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Pentair were worth $1,033,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC grew its position in Pentair by 18.5% during the fourth quarter. V Square Quantitative Management LLC now owns 4,894 shares of the industrial products company’s stock valued at $356,000 after buying an additional 763 shares during the period. Eventide Asset Management LLC boosted its stake in shares of Pentair by 7.2% during the 4th quarter. Eventide Asset Management LLC now owns 354,141 shares of the industrial products company’s stock worth $25,750,000 after acquiring an additional 23,891 shares in the last quarter. Gotham Asset Management LLC grew its position in shares of Pentair by 26.0% during the 4th quarter. Gotham Asset Management LLC now owns 184,336 shares of the industrial products company’s stock valued at $13,403,000 after acquiring an additional 38,017 shares during the period. Point72 Europe London LLP purchased a new position in shares of Pentair in the 4th quarter valued at about $921,000. Finally, Tortoise Index Solutions LLC raised its holdings in Pentair by 9.5% in the 4th quarter. Tortoise Index Solutions LLC now owns 28,736 shares of the industrial products company’s stock worth $2,089,000 after purchasing an additional 2,493 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Trading Up 0.2 %

Shares of PNR stock opened at $79.47 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Pentair plc has a twelve month low of $57.18 and a twelve month high of $85.84. The company’s 50-day moving average price is $80.52 and its 200-day moving average price is $77.34. The stock has a market cap of $13.19 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.36 and a beta of 1.22.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. Pentair’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. As a group, equities analysts predict that Pentair plc will post 4.24 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, July 19th. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Insider Transactions at Pentair

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total value of $2,089,884.15. Following the transaction, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PNR. KeyCorp upped their target price on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. UBS Group increased their price objective on shares of Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. The Goldman Sachs Group reissued a “neutral” rating and set a $91.00 target price on shares of Pentair in a research note on Friday, March 22nd. Mizuho lifted their price objective on Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, Oppenheimer increased their target price on Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and a consensus target price of $89.93.

Pentair 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.