US Bancorp DE Sells 135 Shares of Pentair plc (NYSE:PNR)

US Bancorp DE trimmed its holdings in Pentair plc (NYSE:PNR) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 137,618 shares of the industrial products company’s stock after selling 135 shares during the quarter. US Bancorp DE owned about 0.08% of Pentair worth $13,850,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp lifted its position 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 worth $856,257,000 after purchasing an additional 259,922 shares in the last quarter. FMR LLC lifted its position in shares of Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after purchasing an additional 258,134 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Pentair by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after purchasing an additional 19,853 shares in the last quarter. Swedbank AB lifted its position in shares of Pentair by 17.9% during the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after purchasing an additional 205,000 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Pentair by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company’s stock worth $101,653,000 after purchasing an additional 7,434 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PNR. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Pentair in a research report on Thursday, November 21st. 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. Oppenheimer boosted their price target on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. KeyCorp reissued a “sector weight” rating and set a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Finally, Barclays boosted their price target on shares of Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.25.

Pentair Stock Down 2.8 %

Shares of PNR stock opened at $91.54 on Tuesday. The firm has a fifty day moving average of $99.52 and a 200-day moving average of $98.55. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The company has a market capitalization of $15.09 billion, a price-to-earnings ratio of 24.48, a P/E/G ratio of 1.87 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The company had revenue of $972.90 million during the quarter, compared to the consensus estimate of $970.95 million. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Pentair plc will post 4.77 earnings per share for the current fiscal 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio is 26.74%.

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.