Allspring Global Investments Holdings LLC Lowers Stake in Pentair plc (NYSE:PNR)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Pentair plc (NYSE:PNR) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,459 shares of the industrial products company’s stock after selling 254 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Pentair were worth $749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Savant Capital LLC grew its stake in shares of 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 purchasing an additional 324 shares during the period. Kingsview Wealth Management LLC lifted its position in Pentair by 100.6% in the fourth quarter. Kingsview Wealth Management LLC now owns 5,072 shares of the industrial products company’s stock valued at $510,000 after buying an additional 2,544 shares during the last quarter. Global X Japan Co. Ltd. raised its holdings in shares of Pentair by 4.0% in the 4th quarter. Global X Japan Co. Ltd. now owns 5,234 shares of the industrial products company’s stock valued at $527,000 after buying an additional 199 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Pentair by 2.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,365 shares of the industrial products company’s stock valued at $1,949,000 after purchasing an additional 380 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Pentair by 22.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,090 shares of the industrial products company’s stock worth $2,737,000 after buying an additional 5,051 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PNR. Stifel Nicolaus dropped their price objective on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a 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. KeyCorp restated a “sector weight” rating and issued a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Citigroup dropped their price target on shares of Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Robert W. Baird raised their price objective on shares of Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Pentair presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.25.

Pentair Stock Down 2.5 %

Shares of NYSE:PNR opened at $92.89 on Monday. The stock’s 50-day moving average price is $100.54 and its two-hundred day moving average price is $98.21. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The firm has a market cap of $15.35 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 1.87 and a beta of 1.20.

Pentair (NYSE:PNR) last announced its earnings results 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 company 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 revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.87 earnings per share. On average, research analysts forecast that Pentair plc will post 4.77 EPS for the current year.

Pentair Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders 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 yield of 1.08%. This is a positive change from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, January 24th. Pentair’s payout ratio 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.