New York Life Investment Management LLC Has $3.02 Million Stake in Pentair plc (NYSE:PNR)

New York Life Investment Management LLC cut its stake in Pentair plc (NYSE:PNR) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,502 shares of the industrial products company’s stock after selling 1,792 shares during the quarter. New York Life Investment Management LLC’s holdings in Pentair were worth $3,018,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PNR. Nordea Investment Management AB increased its stake in Pentair by 191.8% in the 4th quarter. Nordea Investment Management AB now owns 70,424 shares of the industrial products company’s stock valued at $5,122,000 after buying an additional 46,290 shares during the last quarter. GAMMA Investing LLC bought a new stake in Pentair during the fourth quarter worth $69,000. Vanguard Group Inc. boosted its position in Pentair by 1.0% in the third quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock worth $1,287,364,000 after purchasing an additional 204,416 shares during the last quarter. Vest Financial LLC grew its stake in Pentair by 31.7% in the 4th quarter. Vest Financial LLC now owns 450,602 shares of the industrial products company’s stock valued at $32,763,000 after purchasing an additional 108,560 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Pentair by 8.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 348,573 shares of the industrial products company’s stock valued at $25,299,000 after purchasing an additional 27,122 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PNR. The Goldman Sachs Group restated a “neutral” rating and set a $91.00 price target on shares of Pentair in a research report on Friday, March 22nd. Northcoast Research upgraded shares of Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, April 15th. Stifel Nicolaus upped their price objective on Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. BNP Paribas began coverage on Pentair in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 target price for the company. Finally, Mizuho upped their price target on Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.93.

Pentair Trading Up 1.0 %

Shares of Pentair stock opened at $79.61 on Monday. The company’s 50-day moving average price is $80.87 and its 200-day moving average price is $72.66. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Pentair plc has a 12-month low of $55.26 and a 12-month high of $85.81. The company has a market cap of $13.22 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.37 and a beta of 1.24.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04. The business 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 business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. On average, equities analysts expect that Pentair plc will post 4.24 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Friday, April 19th were paid a $0.23 dividend. The ex-dividend date of this dividend was 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 24.47%.

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.