IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 4,336 Shares of Pentair plc (NYSE:PNR)

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its position in shares of Pentair plc (NYSE:PNR) by 37.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,202 shares of the industrial products company’s stock after selling 4,336 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Pentair were worth $725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. NEOS Investment Management LLC increased its stake in shares of Pentair by 25.6% in the 4th quarter. NEOS Investment Management LLC now owns 6,074 shares of the industrial products company’s stock valued at $611,000 after purchasing an additional 1,238 shares during the last quarter. Elo Mutual Pension Insurance Co grew its position in Pentair by 16.6% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 17,198 shares of the industrial products company’s stock valued at $1,731,000 after acquiring an additional 2,451 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Pentair by 8.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 328,922 shares of the industrial products company’s stock worth $33,241,000 after acquiring an additional 24,244 shares in the last quarter. Korea Investment CORP lifted its holdings in shares of Pentair by 11.7% in the fourth quarter. Korea Investment CORP now owns 202,358 shares of the industrial products company’s stock worth $20,365,000 after acquiring an additional 21,200 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Pentair by 11.3% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,087 shares of the industrial products company’s stock valued at $9,670,000 after purchasing an additional 9,761 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Down 2.9 %

Shares of Pentair stock opened at $86.76 on Friday. The stock’s 50-day moving average is $94.54 and its 200 day moving average is $98.69. Pentair plc has a one year low of $72.63 and a one year high of $110.71. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92.

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

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. Pentair’s dividend payout ratio is currently 26.74%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PNR shares. Baird R W raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Robert W. Baird raised Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 target price for the company in a report on Tuesday. Barclays dropped their target price on Pentair from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Pentair currently has an average rating of “Moderate Buy” and a consensus price target of $112.27.

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.