Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Trims Stock Position in Pentair plc (NYSE:PNR)

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group cut its holdings in shares of Pentair plc (NYSE:PNR) by 6.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,717 shares of the industrial products company’s stock after selling 1,176 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Pentair were worth $1,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PNR. DekaBank Deutsche Girozentrale lifted its holdings in shares of Pentair by 352.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after buying an additional 1,228,635 shares during the period. Swedbank AB purchased a new position in Pentair during the first quarter valued at approximately $97,083,000. Massachusetts Financial Services Co. MA lifted its holdings in Pentair by 91.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after acquiring an additional 996,325 shares during the period. Interval Partners LP boosted its position in Pentair by 289.6% in the 2nd quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after purchasing an additional 710,703 shares in the last quarter. Finally, AMF Tjanstepension AB acquired a new stake in shares of Pentair during the 1st quarter worth approximately $45,096,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PNR shares. Royal Bank of Canada boosted their target price on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Northcoast Research lowered shares of Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. KeyCorp increased their price target on Pentair from $92.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Barclays boosted their price objective on Pentair from $90.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have issued 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 $92.87.

Pentair Price Performance

Shares of NYSE PNR opened at $96.81 on Wednesday. The firm has a 50-day simple moving average of $87.97 and a 200-day simple moving average of $83.04. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $16.02 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20. Pentair plc has a 52 week low of $57.18 and a 52 week high of $98.23.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. The business 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 business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. On average, equities analysts predict that Pentair plc will post 4.25 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. Pentair’s payout ratio is 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.