Envestnet Portfolio Solutions Inc. Sells 7,844 Shares of Pentair plc (NYSE:PNR)

Envestnet Portfolio Solutions Inc. lessened its stake in Pentair plc (NYSE:PNR) by 19.1% in the 4th quarter, HoldingsChannel reports. The fund owned 33,291 shares of the industrial products company’s stock after selling 7,844 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Pentair were worth $3,350,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. National Bank of Canada FI increased its holdings in shares of Pentair by 862.2% in the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock valued at $43,212,000 after purchasing an additional 395,962 shares in the last quarter. Allianz Asset Management GmbH boosted its position in Pentair by 67.4% in the 4th quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock valued at $89,390,000 after buying an additional 357,523 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Pentair in the 3rd quarter valued at $26,748,000. National Pension Service raised its position in shares of Pentair by 726.4% during the fourth quarter. National Pension Service now owns 296,554 shares of the industrial products company’s stock worth $29,845,000 after acquiring an additional 260,668 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Pentair by 3.1% during the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock valued at $856,257,000 after acquiring an additional 259,922 shares during the period. 92.37% of the stock is owned by institutional investors.

Pentair Stock Up 2.1 %

Pentair stock opened at $89.19 on Thursday. Pentair plc has a twelve month low of $72.63 and a twelve month high of $110.71. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $96.13 and a 200-day moving average of $98.65. The stock has a market capitalization of $14.70 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23.

Pentair (NYSE:PNR) last released its 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 during 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 was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. On average, equities research analysts anticipate that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair’s dividend payout ratio (DPR) is currently 26.74%.

Analyst Ratings Changes

Several analysts have weighed in on PNR shares. Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Stifel Nicolaus dropped their price target on shares of Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Wolfe Research began coverage on shares of Pentair in a report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Pentair in a research note on Thursday, November 21st. Finally, KeyCorp reaffirmed a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $112.93.

Pentair 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.