Ameriprise Financial Inc. Reduces Stake in Pentair plc (NYSE:PNR)

Ameriprise Financial Inc. lowered its stake in Pentair plc (NYSE:PNR) by 26.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,097 shares of the industrial products company’s stock after selling 84,829 shares during the period. Ameriprise Financial Inc.’s holdings in Pentair were worth $24,163,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PNR. Independent Advisor Alliance boosted its position in shares of Pentair by 1.4% during the fourth quarter. Independent Advisor Alliance now owns 7,628 shares of the industrial products company’s stock valued at $768,000 after buying an additional 103 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Pentair by 11.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,194 shares of the industrial products company’s stock valued at $120,000 after buying an additional 118 shares during the period. Richardson Financial Services Inc. boosted its position in shares of Pentair by 16.1% during the fourth quarter. Richardson Financial Services Inc. now owns 916 shares of the industrial products company’s stock valued at $92,000 after buying an additional 127 shares during the period. Annex Advisory Services LLC boosted its position in shares of Pentair by 2.9% during the fourth quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company’s stock valued at $540,000 after buying an additional 151 shares during the period. Finally, Sanctuary Advisors LLC boosted its position in shares of Pentair by 1.3% during the fourth quarter. Sanctuary Advisors LLC now owns 12,094 shares of the industrial products company’s stock valued at $1,251,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Activity

In other news, Director David A. /Wi Jones sold 6,558 shares of the business’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the sale, the director now directly owns 26,313 shares of the company’s stock, valued at $2,366,591.22. The trade was a 19.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.45% of the company’s stock.

Pentair Price Performance

NYSE PNR opened at $97.11 on Thursday. The firm’s fifty day simple moving average is $87.01 and its two-hundred day simple moving average is $96.44. 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 capitalization of $15.98 billion, a P/E ratio of 25.97, a P/E/G ratio of 1.87 and a beta of 1.11.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.10. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $988.38 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. During the same period in the previous year, the company earned $0.94 earnings per share. Analysts forecast that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, July 18th. Pentair’s dividend payout ratio (DPR) is presently 25.84%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Robert W. Baird dropped their target price on Pentair from $114.00 to $107.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group set a $95.00 price target on shares of Pentair and gave the company a “neutral” rating in a research note on Tuesday, April 22nd. Barclays lifted their price target on shares of Pentair from $110.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Baird R W raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 25th. Finally, Citigroup decreased their price target on shares of Pentair from $118.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.93.

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.