Sigma Planning Corp Reduces Stock Holdings in Pentair plc (NYSE:PNR)

Sigma Planning Corp lowered its position in Pentair plc (NYSE:PNR) by 65.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,886 shares of the industrial products company’s stock after selling 5,539 shares during the quarter. Sigma Planning Corp’s holdings in Pentair were worth $210,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Lindbrook Capital LLC grew its holdings in shares of Pentair by 82.4% in the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 154 shares during the period. Assetmark Inc. boosted its stake in Pentair by 935.1% during the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after buying an additional 346 shares during the period. Quent Capital LLC boosted its stake in Pentair by 112.7% during the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after buying an additional 213 shares during the period. IFP Advisors Inc boosted its stake in Pentair by 97.6% during the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after buying an additional 202 shares during the period. Finally, Baystate Wealth Management LLC purchased a new position in Pentair during the third quarter worth about $30,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Up 0.7 %

Shares of NYSE:PNR opened at $80.53 on Tuesday. The firm’s 50 day moving average price is $80.45 and its 200 day moving average price is $72.10. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 1.38 and a beta of 1.20. Pentair plc has a fifty-two week low of $55.26 and a fifty-two week high of $85.81. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.63.

Pentair (NYSE:PNR) last issued 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 firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. As a group, equities research analysts predict that Pentair plc will post 4.24 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.14%. Pentair’s payout ratio is currently 24.47%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PNR. Mizuho increased their target price on shares of Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Citigroup increased their target price on shares of Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. KeyCorp increased their target price on shares of Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Northcoast Research raised shares of Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Monday, April 15th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $91.00 price target on shares of Pentair in a research report on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.93.

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.