Swiss National Bank Lowers Stake in Pentair plc (NYSE:PNR)

Posted by on May 12th, 2023

Swiss National Bank lowered its stake in shares of Pentair plc (NYSE:PNR – Get Rating) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 668,287 shares of the industrial products company’s stock after selling 47,071 shares during the period. Swiss National Bank owned 0.41% of Pentair worth $30,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Two Sigma Investments LP increased its position in shares of Pentair by 22.6% during the third quarter. Two Sigma Investments LP now owns 684,749 shares of the industrial products company’s stock worth $27,821,000 after purchasing an additional 126,442 shares in the last quarter. Creative Planning increased its position in shares of Pentair by 3.1% during the third quarter. Creative Planning now owns 11,714 shares of the industrial products company’s stock worth $476,000 after purchasing an additional 356 shares in the last quarter. AlphaCrest Capital Management LLC increased its position in shares of Pentair by 46.0% during the third quarter. AlphaCrest Capital Management LLC now owns 36,754 shares of the industrial products company’s stock worth $1,493,000 after purchasing an additional 11,573 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in shares of Pentair during the fourth quarter worth $229,000. Finally, Janney Montgomery Scott LLC increased its position in shares of Pentair by 29.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 221,559 shares of the industrial products company’s stock valued at $9,966,000 after acquiring an additional 49,977 shares during the period. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Pentair Stock Up 0.4 %

Shares of NYSE PNR opened at $58.65 on Friday. The company has a 50 day simple moving average of $54.28 and a 200-day simple moving average of $50.36. The company has a market capitalization of $9.67 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.83 and a beta of 1.12. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.76 and a quick ratio of 0.98. Pentair plc has a 1 year low of $38.55 and a 1 year high of $60.85.

Pentair (NYSE:PNR – Get Rating) last posted its earnings results on Thursday, April 27th. The industrial products company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.14. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $996.02 million. Pentair had a net margin of 11.88% and a return on equity of 23.09%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. On average, equities research analysts predict that Pentair plc will post 3.65 earnings per share for the current year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Friday, July 21st will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $0.88 annualized dividend and a dividend yield of 1.50%. Pentair’s dividend payout ratio (DPR) is currently 29.53%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Oppenheimer upped their target price on Pentair from $70.00 to $72.00 in a research report on Friday, April 28th. Robert W. Baird upped their target price on Pentair from $48.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, February 1st. Loop Capital upped their target price on Pentair from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Stifel Nicolaus upped their price target on shares of Pentair from $69.00 to $71.00 in a report on Friday, April 28th. Finally, StockNews.com initiated coverage on shares of Pentair in a report on Thursday, March 16th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Pentair currently has an average rating of “Moderate Buy” and a consensus target price of $62.14.

Pentair Company Profile

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Pentair plc engages in the provision of water solutions for residential, commercial, industrial, infrastructure, and agriculture applications. Its portfolio of solutions enables people, businesses, and industries to access clean, safe water, reduce water consumption, and recover and reuse it. The firm operates through the following business segments: Consumer Solutions and Industrial & Flow Technologies.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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