State of Alaska Department of Revenue Cuts Stock Position in Pentair plc (NYSE:PNR)

State of Alaska Department of Revenue trimmed its position in shares of Pentair plc (NYSE:PNR) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,845 shares of the industrial products company’s stock after selling 390 shares during the quarter. State of Alaska Department of Revenue’s holdings in Pentair were worth $1,896,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PNR. National Bank of Canada FI increased its holdings in Pentair by 862.2% during the 3rd 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 during the period. World Investment Advisors LLC acquired a new position in shares of Pentair in the 3rd quarter valued at $26,748,000. State Street Corp grew its position in shares of Pentair by 3.1% in the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock valued at $856,257,000 after buying an additional 259,922 shares during the last quarter. FMR LLC increased its position in shares of Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after purchasing an additional 258,134 shares in the last quarter. Finally, Swedbank AB increased its position in Pentair by 17.9% during the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after buying an additional 205,000 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on PNR. Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Robert W. Baird upped their price objective on shares of Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. boosted their price target on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Wolfe Research assumed coverage on shares of Pentair in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price objective for the company. Finally, Mizuho boosted their target price on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $111.25.

Pentair Stock Performance

NYSE:PNR opened at $99.20 on Wednesday. Pentair plc has a twelve month low of $72.44 and a twelve month high of $110.71. The company has a market capitalization of $16.39 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $102.47 and a two-hundred day moving average price of $97.57.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.06. The firm had revenue of $972.90 million during the quarter, compared to the consensus estimate of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 EPS. As a group, research analysts expect that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, January 24th. This is a boost from Pentair’s previous quarterly dividend of $0.23. Pentair’s dividend payout ratio (DPR) is currently 26.74%.

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.