Pentair plc (NYSE:PNR) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its stake in Pentair plc (NYSE:PNR) by 39.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 93,078 shares of the industrial products company’s stock after selling 60,634 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Pentair were worth $9,367,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its stake in shares of Pentair by 219.0% in the 4th quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company’s stock worth $60,863,000 after acquiring an additional 415,163 shares during the last quarter. National Bank of Canada FI increased its position in Pentair by 862.2% during the third 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 last quarter. Norges Bank purchased a new position in Pentair during the fourth quarter worth about $36,568,000. Allianz Asset Management GmbH boosted its holdings in Pentair by 67.4% in the 4th quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock valued at $89,390,000 after purchasing an additional 357,523 shares during the last quarter. Finally, National Pension Service grew its stake in shares of Pentair by 726.4% in the 4th quarter. National Pension Service now owns 296,554 shares of the industrial products company’s stock valued at $29,845,000 after buying an additional 260,668 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Performance

NYSE:PNR opened at $78.66 on Monday. The company has a market cap of $12.96 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13. 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 52 week low of $72.63 and a 52 week high of $110.71. The company has a fifty day simple moving average of $92.63 and a two-hundred day simple moving average of $98.58.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.06. The company had revenue of $972.90 million for 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%. Pentair’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 EPS. As a group, equities analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. Pentair’s dividend payout ratio is currently 26.74%.

Wall Street Analysts Forecast Growth

PNR has been the topic of a number of recent analyst reports. Robert W. Baird upgraded Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price objective on the stock in a report on Tuesday, March 25th. Baird R W upgraded Pentair from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 25th. Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, KeyCorp reissued a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.27.

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.