Pentair plc (NYSE:PNR) Stake Lessened by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its stake in shares of Pentair plc (NYSE:PNR) by 4.2% during the fourth quarter, HoldingsChannel reports. The fund owned 13,226 shares of the industrial products company’s stock after selling 585 shares during the quarter. Kentucky Retirement Systems’ holdings in Pentair were worth $962,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its holdings in shares of Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 154 shares during the last quarter. Quent Capital LLC increased its holdings in shares of Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 213 shares during the last quarter. Operose Advisors LLC bought a new position in Pentair during the 3rd quarter worth $34,000. Rational Advisors LLC bought a new position in Pentair during the 3rd quarter worth $41,000. Finally, EverSource Wealth Advisors LLC grew its stake in Pentair by 62.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 703 shares of the industrial products company’s stock worth $46,000 after buying an additional 271 shares during 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 $84.23 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. Pentair plc has a fifty-two week low of $55.26 and a fifty-two week high of $85.84. The stock’s 50-day moving average is $82.00 and its two-hundred day moving average is $74.66. The firm has a market cap of $13.98 billion, a P/E ratio of 22.40, a PEG ratio of 1.46 and a beta of 1.24.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 EPS. Analysts predict that Pentair plc will post 4.24 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, July 19th. Pentair’s dividend payout ratio is 24.47%.

Wall Street Analysts Forecast Growth

PNR has been the subject of a number of recent research reports. Mizuho upped their price objective on Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Royal Bank of Canada increased their price target on Pentair from $101.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. BNP Paribas assumed coverage on Pentair in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 price target for the company. Oppenheimer increased their price target on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.93.

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.