Handelsbanken Fonder AB Has $2.44 Million Stake in Pentair plc (NYSE:PNR)

Handelsbanken Fonder AB lowered its position in Pentair plc (NYSE:PNR) by 3.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 33,600 shares of the industrial products company’s stock after selling 1,300 shares during the period. Handelsbanken Fonder AB’s holdings in Pentair were worth $2,443,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. lifted its position in shares of Pentair by 935.1% in the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 346 shares during the period. Lindbrook Capital LLC increased its stake in shares of Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 154 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Pentair by 97.6% in the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 202 shares in the last quarter. Quent Capital LLC increased its stake in shares of Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 213 shares in the last quarter. Finally, Baystate Wealth Management LLC bought a new stake in shares of Pentair in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Performance

NYSE PNR opened at $79.96 on Friday. Pentair plc has a 1 year low of $53.88 and a 1 year high of $85.81. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 0.94. The firm has a market cap of $13.27 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.37 and a beta of 1.20. The company has a fifty day moving average price of $80.35 and a 200-day moving average price of $71.89.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. As a group, equities research analysts predict that Pentair plc will post 4.23 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio (DPR) is currently 24.47%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group lifted their price objective on shares of Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday. BNP Paribas assumed coverage on shares of Pentair in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of Pentair from $101.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays boosted their price target on shares of Pentair from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Oppenheimer boosted their price target on shares of Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.93.

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.