Pentair plc (NYSE:PNR) Stake Reduced by Vontobel Holding Ltd.

Vontobel Holding Ltd. decreased its holdings in shares of Pentair plc (NYSE:PNR) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 211,225 shares of the industrial products company’s stock after selling 1,681 shares during the period. Vontobel Holding Ltd.’s holdings in Pentair were worth $20,656,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. American International Group Inc. grew its position in Pentair by 2.4% in the fourth quarter. American International Group Inc. now owns 44,720 shares of the industrial products company’s stock worth $3,252,000 after buying an additional 1,039 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Pentair by 138.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company’s stock worth $60,655,000 after acquiring an additional 484,810 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Pentair by 28.0% during the fourth quarter. Wellington Management Group LLP now owns 221,599 shares of the industrial products company’s stock worth $16,112,000 after purchasing an additional 48,527 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Pentair by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 126,437 shares of the industrial products company’s stock valued at $9,193,000 after purchasing an additional 1,813 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Pentair by 82.8% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 11,844 shares of the industrial products company’s stock valued at $861,000 after purchasing an additional 5,366 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PNR. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Stifel Nicolaus upped their price target on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays lifted their price objective on shares of Pentair from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Oppenheimer increased their target price on Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.27.

Pentair Stock Performance

Shares of PNR stock opened at $99.48 on Thursday. The firm has a market cap of $16.52 billion, a P/E ratio of 26.46, a PEG ratio of 1.74 and a beta of 1.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96. Pentair plc has a fifty-two week low of $57.18 and a fifty-two week high of $99.95. The stock’s 50-day moving average is $90.75 and its two-hundred day moving average is $84.20.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.08. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. Analysts predict that Pentair plc will post 4.26 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s dividend payout ratio is 24.47%.

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.