Pentair plc (NYSE:PNR) Stock Holdings Trimmed by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in Pentair plc (NYSE:PNR) by 29.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,251 shares of the industrial products company’s stock after selling 88,220 shares during the quarter. Federated Hermes Inc. owned 0.13% of Pentair worth $15,360,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PNR. Vanguard Group Inc. grew its position in Pentair by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock valued at $1,287,364,000 after buying an additional 204,416 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in shares of Pentair by 1.3% in the fourth quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock valued at $718,440,000 after acquiring an additional 131,745 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Pentair by 6.0% in the third quarter. Northern Trust Corp now owns 1,724,390 shares of the industrial products company’s stock valued at $111,654,000 after acquiring an additional 98,175 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Pentair by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,360,911 shares of the industrial products company’s stock valued at $88,119,000 after acquiring an additional 16,168 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in Pentair by 7.9% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,083,616 shares of the industrial products company’s stock worth $70,164,000 after purchasing an additional 79,585 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Stock Performance

Shares of PNR stock opened at $79.25 on Tuesday. The stock’s fifty day simple moving average is $80.10 and its 200-day simple moving average is $71.68. The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of 21.13, a P/E/G ratio of 1.50 and a beta of 1.20. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. Pentair plc has a 1-year low of $52.28 and a 1-year high of $85.81.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.01. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The business had revenue of $984.60 million during the quarter, compared to analyst estimates of $975.36 million. During the same period last year, the company earned $0.82 earnings per share. Pentair’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, sell-side analysts predict that Pentair plc will post 4.2 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a $0.23 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. Pentair’s dividend payout ratio is currently 24.53%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $88.00 price target (up from $82.00) on shares of Pentair in a research note on Thursday, March 7th. StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. BNP Paribas initiated coverage on shares of Pentair in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 price target on the stock. Mizuho raised their price objective on shares of Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $91.00 price objective on shares of Pentair in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and a consensus price target of $87.33.

About Pentair

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.