Rhumbline Advisers Sells 28,463 Shares of Pentair plc (NYSE:PNR)

Rhumbline Advisers lowered its stake in shares of Pentair plc (NYSE:PNR) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 290,643 shares of the industrial products company’s stock after selling 28,463 shares during the period. Rhumbline Advisers owned 0.18% of Pentair worth $29,250,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Banque Pictet & Cie SA bought a new stake in Pentair in the 4th quarter valued at $4,304,000. Asset Management One Co. Ltd. raised its stake in Pentair by 3.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 71,861 shares of the industrial products company’s stock valued at $7,268,000 after acquiring an additional 2,366 shares during the period. Van ECK Associates Corp raised its stake in Pentair by 0.6% in the 4th quarter. Van ECK Associates Corp now owns 27,893 shares of the industrial products company’s stock valued at $2,807,000 after acquiring an additional 167 shares during the period. Savant Capital LLC increased its position in Pentair by 1.7% during the 4th quarter. Savant Capital LLC now owns 19,773 shares of the industrial products company’s stock worth $1,990,000 after buying an additional 324 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in Pentair by 100.6% during the 4th quarter. Kingsview Wealth Management LLC now owns 5,072 shares of the industrial products company’s stock worth $510,000 after buying an additional 2,544 shares during the period. Institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PNR. Stifel Nicolaus lowered their price objective on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Oppenheimer increased their price objective on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Pentair in a research report on Thursday, November 21st. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

Pentair Stock Performance

NYSE:PNR opened at $96.15 on Thursday. The stock’s 50-day simple moving average is $101.09 and its 200 day simple moving average is $97.93. The firm has a market capitalization of $15.89 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. 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 plc has a twelve month low of $72.63 and a twelve month high of $110.71.

Pentair (NYSE:PNR) last released 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. The business had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. Pentair’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share. On average, analysts anticipate that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. This is a positive change from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, January 24th. Pentair’s dividend payout ratio (DPR) is presently 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.