Envestnet Asset Management Inc. Cuts Position in Pentair plc (NYSE:PNR)

Envestnet Asset Management Inc. lessened its position in shares of Pentair plc (NYSE:PNR) by 13.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 278,960 shares of the industrial products company’s stock after selling 45,201 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of Pentair worth $28,075,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PNR. Moody National Bank Trust Division purchased a new position in Pentair in the fourth quarter valued at $989,000. Geode Capital Management LLC raised its position in shares of Pentair by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after acquiring an additional 19,853 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Pentair by 55.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 809 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 287 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in Pentair in the fourth quarter valued at approximately $289,000. Finally, Norges Bank purchased a new position in Pentair in the fourth quarter valued at approximately $36,568,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PNR shares. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a report on Thursday, April 3rd. Citigroup dropped their price objective on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus decreased their target price on Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Barclays decreased their price objective on Pentair from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Four research 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 a consensus target price of $112.27.

Pentair Stock Up 1.5 %

PNR opened at $82.03 on Friday. The company has a market cap of $13.52 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The firm has a 50 day moving average price of $89.54 and a 200 day moving average price of $97.77.

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

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. Pentair’s payout ratio is currently 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.