Dakota Wealth Management Cuts Stock Holdings in Pentair plc (NYSE:PNR)

Dakota Wealth Management trimmed its holdings in shares of Pentair plc (NYSE:PNR) by 51.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 66,541 shares of the industrial products company’s stock after selling 70,411 shares during the period. Dakota Wealth Management’s holdings in Pentair were worth $4,838,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Pentair by 1.0% during the third quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock worth $1,287,364,000 after purchasing an additional 204,416 shares during the period. BlackRock Inc. raised its stake in Pentair by 10.6% in the first quarter. BlackRock Inc. now owns 15,999,717 shares of the industrial products company’s stock worth $884,304,000 after buying an additional 1,526,893 shares in the last quarter. State Street Corp raised its stake in Pentair by 4.4% in the third quarter. State Street Corp now owns 10,611,971 shares of the industrial products company’s stock worth $431,164,000 after buying an additional 443,034 shares in the last quarter. Impax Asset Management Group plc raised its stake in Pentair by 1.3% in the fourth quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock worth $718,440,000 after buying an additional 131,745 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Pentair by 8.2% in the first quarter. Invesco Ltd. now owns 6,346,517 shares of the industrial products company’s stock worth $344,045,000 after buying an additional 479,701 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Price Performance

Shares of PNR opened at $80.34 on Tuesday. The company has a market capitalization of $13.34 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $79.63 and a 200 day moving average of $71.14. Pentair plc has a twelve month low of $51.38 and a twelve month high of $85.81.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.01. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The company had revenue of $984.60 million during the quarter, compared to the consensus estimate of $975.36 million. During the same quarter last year, the firm earned $0.82 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Pentair plc will post 4.21 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio is currently 24.53%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PNR. The Goldman Sachs Group reissued a “neutral” rating and issued a $91.00 price target on shares of Pentair in a research note on Friday, March 22nd. Mizuho increased their price target on shares of Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Barclays increased their price target on shares of Pentair from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus increased their price target on shares of Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $88.00 target price (up previously from $82.00) on shares of Pentair in a research note on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.33.

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.