Corient Private Wealth LLC Cuts Position in Pentair plc (NYSE:PNR)

Corient Private Wealth LLC lowered its position in Pentair plc (NYSE:PNR) by 20.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,690 shares of the industrial products company’s stock after selling 5,342 shares during the quarter. Corient Private Wealth LLC’s holdings in Pentair were worth $2,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PNR. Moody National Bank Trust Division purchased a new stake in shares of Pentair during the 4th quarter worth $989,000. Algert Global LLC purchased a new stake in Pentair during the 3rd quarter worth about $479,000. FMR LLC lifted its holdings in Pentair by 4.7% during the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after buying an additional 258,134 shares during the last quarter. Pathstone Holdings LLC increased its holdings in shares of Pentair by 47.4% in the 3rd quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock valued at $1,944,000 after acquiring an additional 6,391 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Pentair by 30.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 59,880 shares of the industrial products company’s stock worth $5,856,000 after acquiring an additional 14,057 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Price Performance

Shares of NYSE PNR opened at $89.85 on Tuesday. The stock has a fifty day moving average price of $95.54 and a 200 day moving average price of $98.77. Pentair plc has a 1-year low of $72.63 and a 1-year high of $110.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The company has a market cap of $14.81 billion, a PE ratio of 24.03, a P/E/G ratio of 1.87 and a beta of 1.23.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 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 company had revenue of $972.90 million during the quarter, compared to analysts’ expectations of $970.95 million. During the same quarter last year, the business earned $0.87 EPS. The business’s revenue was down 1.2% on a year-over-year basis. Sell-side analysts forecast that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio (DPR) is 26.74%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wolfe Research initiated coverage on Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price target for the company. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Northcoast Research upgraded shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Stifel Nicolaus decreased their price objective on shares of Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, Robert W. Baird lifted their target price on Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Pentair presently has a consensus rating of “Moderate Buy” and an average 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.