Parnassus Investments LLC decreased its position in shares of Pentair plc (NYSE:PNR – Free Report) by 39.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,388,453 shares of the industrial products company’s stock after selling 908,464 shares during the quarter. Parnassus Investments LLC owned approximately 0.84% of Pentair worth $76,740,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of PNR. Millennium Management LLC boosted its holdings in Pentair by 100.3% in the 4th quarter. Millennium Management LLC now owns 2,208,270 shares of the industrial products company’s stock valued at $99,328,000 after purchasing an additional 1,105,735 shares during the last quarter. Robeco Schweiz AG grew its position in Pentair by 41.3% in the first quarter. Robeco Schweiz AG now owns 2,667,551 shares of the industrial products company’s stock worth $144,608,000 after acquiring an additional 780,043 shares during the period. ProShare Advisors LLC increased its stake in Pentair by 18.5% during the fourth quarter. ProShare Advisors LLC now owns 4,031,506 shares of the industrial products company’s stock worth $181,337,000 after acquiring an additional 627,986 shares during the last quarter. Renaissance Technologies LLC raised its position in Pentair by 176.4% in the first quarter. Renaissance Technologies LLC now owns 892,164 shares of the industrial products company’s stock valued at $48,364,000 after purchasing an additional 569,400 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Pentair by 8.2% in the 1st quarter. Invesco Ltd. now owns 6,346,517 shares of the industrial products company’s stock valued at $344,045,000 after purchasing an additional 479,701 shares during the last quarter. Hedge funds and other institutional investors own 89.95% of the company’s stock.
Pentair Trading Down 0.5 %
PNR opened at $65.63 on Wednesday. The business has a fifty day moving average price of $60.78 and a 200 day moving average price of $56.07. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.76 and a quick ratio of 0.98. Pentair plc has a 12 month low of $38.55 and a 12 month high of $67.14. The stock has a market capitalization of $10.83 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 2.06 and a beta of 1.16.
Pentair (NYSE:PNR – Get Free Report) last released its earnings results on Thursday, April 27th. The industrial products company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.14. Pentair had a net margin of 11.88% and a return on equity of 23.09%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $996.02 million. During the same period in the prior year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts expect that Pentair plc will post 3.66 earnings per share for the current fiscal year.
Pentair Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 4th. Shareholders of record on Friday, July 21st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Thursday, July 20th. Pentair’s dividend payout ratio is presently 29.53%.
Analyst Ratings Changes
A number of analysts recently issued reports on PNR shares. Citigroup raised their price objective on Pentair from $70.00 to $74.00 in a research report on Monday, July 10th. UBS Group upgraded shares of Pentair from a “neutral” rating to a “buy” rating and lifted their price target for the company from $53.00 to $72.00 in a research report on Monday, May 8th. StockNews.com assumed coverage on shares of Pentair in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Barclays lifted their target price on shares of Pentair from $66.00 to $70.00 in a report on Monday, July 10th. Finally, Oppenheimer boosted their target price on Pentair from $72.00 to $78.00 in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $64.93.
Pentair Company Profile
Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.