Texas Permanent School Fund cut its position in Pentair PLC (NYSE:PNR) by 11.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,124 shares of the industrial products company’s stock after selling 4,102 shares during the quarter. Texas Permanent School Fund’s holdings in Pentair were worth $1,214,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in Pentair by 1.9% during the 4th quarter. BlackRock Inc. now owns 13,138,848 shares of the industrial products company’s stock worth $496,385,000 after acquiring an additional 239,511 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Pentair by 15.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,561,825 shares of the industrial products company’s stock worth $111,056,000 after acquiring an additional 335,640 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Pentair by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,962,850 shares of the industrial products company’s stock worth $74,156,000 after acquiring an additional 187,946 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in Pentair by 68.4% during the 3rd quarter. Panagora Asset Management Inc. now owns 1,528,930 shares of the industrial products company’s stock worth $66,279,000 after acquiring an additional 621,206 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Pentair by 55.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,209,876 shares of the industrial products company’s stock worth $52,449,000 after acquiring an additional 432,892 shares during the last quarter. Institutional investors own 83.78% of the company’s stock.
A number of equities research analysts have weighed in on PNR shares. Oppenheimer reissued a “hold” rating on shares of Pentair in a report on Tuesday, January 29th. Morgan Stanley started coverage on shares of Pentair in a report on Tuesday, December 18th. They set an “equal weight” rating and a $41.00 target price on the stock. ValuEngine lowered shares of Pentair from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Finally, Zacks Investment Research lowered shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, November 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $48.40.
PNR traded up $0.03 during trading on Friday, hitting $42.59. 8,004 shares of the company’s stock were exchanged, compared to its average volume of 1,498,468. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Pentair PLC has a fifty-two week low of $35.30 and a fifty-two week high of $73.07. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.61 and a beta of 1.25.
Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Pentair had a net margin of 9.92% and a return on equity of 18.86%. The firm had revenue of $740.50 million for the quarter, compared to the consensus estimate of $735.74 million. During the same quarter in the prior year, the company posted $0.93 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that Pentair PLC will post 2.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $0.72 annualized dividend and a yield of 1.69%. Pentair’s payout ratio is 30.64%.
In other news, COO Karl R. Frykman sold 10,241 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $41.28, for a total value of $422,748.48. Following the completion of the sale, the chief operating officer now owns 60,877 shares in the company, valued at $2,513,002.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Ademir Sarcevic sold 1,287 shares of the stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $37.61, for a total transaction of $48,404.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,794 shares of company stock worth $482,559. Corporate insiders own 10.70% of the company’s stock.
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Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.
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