Metis Global Partners LLC Reduces Stake in Pentair plc (NYSE:PNR)

Metis Global Partners LLC cut its stake in shares of Pentair plc (NYSE:PNR) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,969 shares of the industrial products company’s stock after selling 1,449 shares during the period. Metis Global Partners LLC’s holdings in Pentair were worth $2,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Pentair by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock valued at $1,287,364,000 after buying an additional 204,416 shares during the period. Impax Asset Management Group plc raised its stake in shares of Pentair by 1.3% in the fourth quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock valued at $718,440,000 after acquiring an additional 131,745 shares during the period. Northern Trust Corp lifted its holdings in shares of Pentair by 6.0% in the 3rd quarter. Northern Trust Corp now owns 1,724,390 shares of the industrial products company’s stock worth $111,654,000 after acquiring an additional 98,175 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Pentair by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,360,911 shares of the industrial products company’s stock worth $88,119,000 after purchasing an additional 16,168 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in Pentair by 7.9% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,083,616 shares of the industrial products company’s stock valued at $70,164,000 after purchasing an additional 79,585 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PNR shares. Barclays raised their price objective on shares of Pentair from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. UBS Group boosted their price objective on Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada increased their target price on Pentair from $101.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Mizuho boosted their target price on shares of Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Bank of America upgraded shares of Pentair from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $46.00 to $76.00 in a report on Thursday, January 11th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and an average target price of $89.93.

Pentair Stock Up 0.4 %

Pentair stock opened at $82.23 on Tuesday. Pentair plc has a twelve month low of $55.26 and a twelve month high of $85.81. The business has a fifty day moving average of $80.99 and a two-hundred day moving average of $72.79. The firm has a market cap of $13.65 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.37 and a beta of 1.24. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.63.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. On average, analysts forecast that Pentair plc will post 4.24 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Friday, April 19th were paid a $0.23 dividend. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $0.92 annualized dividend and a yield of 1.12%. Pentair’s dividend payout ratio (DPR) is 24.47%.

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.