BB&T Securities LLC trimmed its stake in Pentair PLC (NYSE:PNR) by 24.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 72,029 shares of the industrial products company’s stock after selling 23,819 shares during the period. BB&T Securities LLC’s holdings in Pentair were worth $2,721,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in PNR. Wells Fargo & Company MN grew its holdings in shares of Pentair by 0.8% in the third quarter. Wells Fargo & Company MN now owns 3,647,218 shares of the industrial products company’s stock valued at $158,107,000 after purchasing an additional 27,669 shares in the last quarter. Sound Shore Management Inc. CT grew its holdings in shares of Pentair by 5.2% in the third quarter. Sound Shore Management Inc. CT now owns 3,095,282 shares of the industrial products company’s stock valued at $134,180,000 after purchasing an additional 152,601 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Pentair by 15.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,561,825 shares of the industrial products company’s stock valued at $111,056,000 after purchasing an additional 335,640 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Pentair by 56.5% in the third quarter. Bank of New York Mellon Corp now owns 1,774,904 shares of the industrial products company’s stock valued at $76,942,000 after purchasing an additional 640,849 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in shares of Pentair by 68.4% in the third quarter. Panagora Asset Management Inc. now owns 1,528,930 shares of the industrial products company’s stock valued at $66,279,000 after purchasing an additional 621,206 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.
In other Pentair news, SVP Ademir Sarcevic sold 1,287 shares of the business’s stock in a transaction that occurred on Thursday, January 3rd. The shares were sold at an average price of $37.61, for a total transaction of $48,404.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Karl R. Frykman sold 10,241 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $41.28, for a total transaction of $422,748.48. Following the transaction, the chief operating officer now owns 60,877 shares of the company’s stock, valued at approximately $2,513,002.56. The disclosure for this sale can be found here. Insiders own 10.70% of the company’s stock.
Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $0.60 EPS for the quarter, topping the 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 company had revenue of $740.50 million during the quarter, compared to analysts’ expectations of $735.74 million. During the same quarter in the previous year, the business posted $0.93 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts expect that Pentair PLC will post 2.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 8th. Shareholders of record on Friday, January 25th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, January 24th. This is a boost from Pentair’s previous quarterly dividend of $0.18. Pentair’s payout ratio is 30.64%.
A number of research analysts recently weighed in on PNR shares. ValuEngine cut shares of Pentair from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 17th. Stifel Nicolaus upgraded shares of Pentair from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Wednesday, October 24th. Morgan Stanley started coverage on shares of Pentair in a report on Tuesday, December 18th. They issued an “equal weight” rating and a $41.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Pentair from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Finally, Oppenheimer restated a “hold” rating on shares of Pentair in a report on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Pentair presently has a consensus rating of “Hold” and an average target price of $51.09.
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Pentair Company Profile
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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