Corebridge Financial Inc. Has $4.12 Million Stock Position in Pentair plc (NYSE:PNR)

Corebridge Financial Inc. cut its holdings in Pentair plc (NYSE:PNR) by 2.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,911 shares of the industrial products company’s stock after selling 929 shares during the period. Corebridge Financial Inc.’s holdings in Pentair were worth $4,117,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PNR. Quarry LP grew its position in shares of Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares in the last quarter. SJS Investment Consulting Inc. grew its position in Pentair by 753.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after buying an additional 294 shares in the last quarter. Eastern Bank increased its stake in Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 300 shares during the period. Friedenthal Financial acquired a new position in Pentair in the 4th quarter valued at $56,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Pentair during the 4th quarter valued at $60,000. 92.37% of the stock is owned by institutional investors.

Pentair Stock Performance

Pentair stock opened at $86.76 on Monday. The business has a 50 day moving average of $94.54 and a 200-day moving average of $98.84. The company has a market capitalization of $14.30 billion, a P/E ratio of 23.20, a P/E/G ratio of 1.87 and a beta of 1.23. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The firm had revenue of $972.90 million during the quarter, compared to the consensus estimate of $970.95 million. During the same quarter last year, the firm earned $0.87 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities research analysts predict that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. Pentair’s dividend payout ratio (DPR) is presently 26.74%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PNR. Stifel Nicolaus decreased their price target on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Citigroup cut their price target on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a report on Monday, January 13th. Robert W. Baird raised shares of Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price objective on the stock in a research note on Tuesday, March 25th. KeyCorp restated a “sector weight” rating and set a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Finally, Baird R W raised Pentair from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 25th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Pentair currently has an average rating of “Moderate Buy” and an average target price of $112.27.

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.