Sequoia Financial Advisors LLC Reduces Holdings in Pentair plc (NYSE:PNR)

Sequoia Financial Advisors LLC reduced its stake in Pentair plc (NYSE:PNR) by 32.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,386 shares of the industrial products company’s stock after selling 1,648 shares during the period. Sequoia Financial Advisors LLC’s holdings in Pentair were worth $341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. National Bank of Canada FI grew its stake in Pentair by 862.2% in the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock worth $43,212,000 after purchasing an additional 395,962 shares during the period. Allianz Asset Management GmbH grew its position in shares of Pentair by 67.4% in the 4th quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock worth $89,390,000 after buying an additional 357,523 shares during the period. World Investment Advisors LLC bought a new position in shares of Pentair in the 3rd quarter worth about $26,748,000. National Pension Service lifted its position in Pentair by 726.4% during the 4th quarter. National Pension Service now owns 296,554 shares of the industrial products company’s stock valued at $29,845,000 after acquiring an additional 260,668 shares during the period. Finally, State Street Corp boosted its stake in Pentair by 3.1% during the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after acquiring an additional 259,922 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Stock Up 2.1 %

Shares of PNR 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 52-week low of $72.63 and a 52-week high of $110.71. The company has a market cap of $14.70 billion, a PE ratio of 23.85, a P/E/G ratio of 1.87 and a beta of 1.23. The business has a fifty day moving average of $96.13 and a 200 day moving average of $98.65.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The firm had revenue of $972.90 million during the quarter, compared to analysts’ expectations of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 EPS. On average, sell-side analysts expect that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PNR. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Pentair in a research note on Thursday, November 21st. Stifel Nicolaus reduced their price objective on Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Barclays increased their target price on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, KeyCorp reaffirmed a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.