D.A. Davidson & CO. Sells 513 Shares of Pentair plc (NYSE:PNR)

D.A. Davidson & CO. reduced its position in Pentair plc (NYSE:PNR) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,879 shares of the industrial products company’s stock after selling 513 shares during the quarter. D.A. Davidson & CO.’s holdings in Pentair were worth $1,900,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in Pentair by 4.3% in the fourth quarter. CIBC Asset Management Inc now owns 20,154 shares of the industrial products company’s stock worth $2,028,000 after purchasing an additional 825 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in Pentair by 1.3% in the fourth quarter. Sanctuary Advisors LLC now owns 12,094 shares of the industrial products company’s stock worth $1,251,000 after purchasing an additional 161 shares in the last quarter. Banque Pictet & Cie SA bought a new position in Pentair in the fourth quarter worth about $4,304,000. Asset Management One Co. Ltd. raised its holdings in Pentair by 3.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 71,861 shares of the industrial products company’s stock worth $7,268,000 after purchasing an additional 2,366 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Pentair by 0.6% in the fourth quarter. Van ECK Associates Corp now owns 27,893 shares of the industrial products company’s stock worth $2,807,000 after purchasing an additional 167 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PNR has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Pentair in a report on Thursday, November 21st. Robert W. Baird boosted their price target on Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Stifel Nicolaus dropped their price target on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Wolfe Research started coverage on Pentair in a research note on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price target on the stock. Finally, KeyCorp restated a “sector weight” rating and set a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $111.25.

Pentair Price Performance

Shares of NYSE PNR opened at $92.89 on Friday. Pentair plc has a 52 week low of $72.63 and a 52 week high of $110.71. The firm has a market cap of $15.35 billion, a P/E ratio of 24.84, a P/E/G ratio of 1.87 and a beta of 1.20. The business’s 50 day moving average price is $100.54 and its 200 day moving average price is $98.10. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The company had revenue of $972.90 million during the quarter, compared to the consensus estimate of $970.95 million. During the same period in the previous year, the company posted $0.87 earnings per share. Pentair’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, sell-side analysts expect that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 1.08%. Pentair’s payout ratio is presently 26.74%.

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.