Pentair (PNR) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System cut its stake in Pentair (NYSE:PNR) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247,423 shares of the industrial products company’s stock after selling 5,035 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Pentair were worth $16,857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in shares of Pentair by 26.1% in the first quarter. Victory Capital Management Inc. now owns 9,083 shares of the industrial products company’s stock worth $619,000 after acquiring an additional 1,881 shares during the period. American Century Companies Inc. grew its stake in shares of Pentair by 344.3% in the first quarter. American Century Companies Inc. now owns 45,889 shares of the industrial products company’s stock worth $3,126,000 after acquiring an additional 35,561 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Pentair by 3.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,707 shares of the industrial products company’s stock worth $3,727,000 after acquiring an additional 1,800 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Pentair by 155.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 260,389 shares of the industrial products company’s stock worth $17,748,000 after acquiring an additional 158,652 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Pentair by 2,424.1% in the first quarter. SG Americas Securities LLC now owns 758,153 shares of the industrial products company’s stock worth $51,653,000 after acquiring an additional 728,116 shares during the period. Hedge funds and other institutional investors own 88.26% of the company’s stock.

In other news, Chairman Randall J. Hogan sold 100,000 shares of the business’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $71.50, for a total value of $7,150,000.00. Following the transaction, the chairman now owns 83,055 shares of the company’s stock, valued at $5,938,432.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.70% of the stock is currently owned by insiders.

Shares of Pentair opened at $45.00 on Wednesday, MarketBeat.com reports. The company has a current ratio of 2.65, a quick ratio of 2.07 and a debt-to-equity ratio of 0.57. Pentair has a 1-year low of $44.61 and a 1-year high of $45.29. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.97 and a beta of 1.36.

Pentair (NYSE:PNR) last released its earnings results on Thursday, April 19th. The industrial products company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.83 by $0.05. Pentair had a net margin of 13.57% and a return on equity of 14.01%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. equities research analysts predict that Pentair will post 2.28 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 3rd. Stockholders of record on Friday, July 20th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Thursday, July 19th. Pentair’s dividend payout ratio (DPR) is presently 39.66%.

A number of analysts have recently commented on PNR shares. ValuEngine upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th. Zacks Investment Research upgraded shares of Pentair from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Thursday, March 22nd. Stifel Nicolaus reiterated a “hold” rating and issued a $78.00 price target on shares of Pentair in a research note on Wednesday, January 31st. UBS lowered shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Robert W. Baird reiterated a “hold” rating and issued a $76.00 price target on shares of Pentair in a research note on Wednesday, April 4th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Pentair presently has a consensus rating of “Hold” and a consensus target price of $63.21.

About Pentair

Pentair plc operates as a diversified industrial manufacturing company in the United States, Europe, and internationally. The company operates through two segments, Water and Electrical. The Water segment designs, manufactures, and services products and solutions to meet filtration, separation, flow, and water management challenges in agriculture, aquaculture, foodservice, food and beverage processing, swimming pools, water supply and disposal, and various industrial applications.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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