HighTower Advisors LLC Has $4.51 Million Stake in Pentair plc (NYSE:PNR)

HighTower Advisors LLC lowered its position in Pentair plc (NYSE:PNR) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,849 shares of the industrial products company’s stock after selling 3,186 shares during the quarter. HighTower Advisors LLC’s holdings in Pentair were worth $4,514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc grew its holdings in Pentair by 9.3% during the third quarter. CIBC Asset Management Inc now owns 19,329 shares of the industrial products company’s stock worth $1,890,000 after purchasing an additional 1,640 shares during the period. Natixis Advisors LLC boosted its stake in shares of Pentair by 4.1% during the 3rd quarter. Natixis Advisors LLC now owns 103,110 shares of the industrial products company’s stock worth $10,083,000 after acquiring an additional 4,074 shares during the period. Claro Advisors LLC acquired a new position in shares of Pentair during the 3rd quarter worth approximately $249,000. Swiss National Bank raised its stake in Pentair by 0.7% in the 3rd quarter. Swiss National Bank now owns 492,787 shares of the industrial products company’s stock valued at $48,190,000 after acquiring an additional 3,300 shares during the period. Finally, Pathstone Holdings LLC lifted its holdings in Pentair by 47.4% during the 3rd quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock valued at $1,944,000 after purchasing an additional 6,391 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Pentair Trading Up 2.1 %

Shares of Pentair stock opened at $89.19 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.87 and a beta of 1.23. The firm’s 50-day moving average price is $96.13 and its two-hundred day moving average price is $98.65.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The business had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. During the same quarter last year, the business posted $0.87 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. Pentair’s dividend payout ratio is currently 26.74%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird upped their price objective on shares of Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. KeyCorp restated a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Pentair in a research report on Thursday, November 21st. Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Citigroup decreased their price objective on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.93.

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.