Oppenheimer & Co. Inc. Sells 2,818 Shares of Pentair plc (NYSE:PNR)

Oppenheimer & Co. Inc. cut its stake in Pentair plc (NYSE:PNR) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,159 shares of the industrial products company’s stock after selling 2,818 shares during the period. Oppenheimer & Co. Inc.’s holdings in Pentair were worth $4,444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP lifted its holdings in shares of Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 134 shares during the period. SJS Investment Consulting Inc. lifted its holdings in shares of Pentair by 753.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 294 shares during the period. Blue Trust Inc. lifted its holdings in shares of Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 327 shares during the period. Eastern Bank lifted its holdings in shares of Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 300 shares during the period. Finally, Friedenthal Financial bought a new position in shares of Pentair during the 4th quarter worth about $56,000. 92.37% of the stock is owned by institutional investors.

Pentair Trading Up 1.4 %

PNR opened at $94.29 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $15.58 billion, a PE ratio of 25.21, a PEG ratio of 1.87 and a beta of 1.20. 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 $99.68 and a two-hundred day moving average price of $98.27.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate 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 net margin of 15.32% and a return on equity of 20.94%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. As a group, equities analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair’s dividend payout ratio is 26.74%.

Analyst Upgrades and Downgrades

PNR has been the subject of a number of analyst reports. Wolfe Research initiated coverage on shares of Pentair in a report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective for the company. Robert W. Baird raised their price objective on shares of Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. KeyCorp reiterated a “sector weight” rating and set a $115.00 target price on shares of Pentair in a research report on Monday, January 6th. Barclays increased their target price on shares of Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Oppenheimer increased their target price on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $111.25.

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.