Sit Investment Associates Inc. Has $74,000 Stake in Pentair plc (NYSE:PNR)

Sit Investment Associates Inc. lowered its holdings in Pentair plc (NYSE:PNR) by 28.8% in the fourth quarter, Holdings Channel reports. The firm owned 740 shares of the industrial products company’s stock after selling 300 shares during the quarter. Sit Investment Associates Inc.’s holdings in Pentair were worth $74,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNR. Benjamin Edwards Inc. bought a new position in shares of Pentair in the 3rd quarter valued at about $437,000. HighTower Advisors LLC grew its stake in Pentair by 3.8% in the third quarter. HighTower Advisors LLC now owns 48,035 shares of the industrial products company’s stock valued at $4,694,000 after purchasing an additional 1,774 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Pentair by 1.9% in the third quarter. Integrated Wealth Concepts LLC now owns 9,814 shares of the industrial products company’s stock valued at $960,000 after purchasing an additional 187 shares in the last quarter. Quarry LP increased its position in shares of Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of Pentair by 64.2% in the 3rd quarter. Quantinno Capital Management LP now owns 19,297 shares of the industrial products company’s stock valued at $1,887,000 after buying an additional 7,546 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Baird R W upgraded shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 25th. Citigroup lowered their price objective on shares of Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. KeyCorp reiterated a “sector weight” rating and issued a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Barclays lowered their price target on Pentair from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Finally, Robert W. Baird raised Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price objective for the company in a research report on Tuesday, March 25th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $112.27.

Pentair Stock Down 1.6 %

PNR stock opened at $77.47 on Tuesday. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week 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 stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.87 and a beta of 1.13. The business’s fifty day moving average price is $92.13 and its two-hundred day moving average price is $98.45.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. Pentair’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.87 earnings per share. On average, equities analysts anticipate that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio is currently 26.74%.

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.