Pictet Asset Management Holding SA Has $340.24 Million Stock Holdings in Pentair plc $PNR

Pictet Asset Management Holding SA cut its stake in shares of Pentair plc (NYSE:PNR) by 7.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,906,622 shares of the industrial products company’s stock after selling 317,209 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Pentair were worth $340,240,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Pentair by 71.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 105 shares in the last quarter. Wexford Capital LP acquired a new position in Pentair in the 3rd quarter worth about $26,000. Motiv8 Investments LLC bought a new position in Pentair in the fourth quarter valued at about $27,000. Aster Capital Management DIFC Ltd bought a new position in Pentair in the fourth quarter valued at about $43,000. Finally, Park Square Financial Group LLC boosted its stake in shares of Pentair by 502.8% during the fourth quarter. Park Square Financial Group LLC now owns 434 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 362 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

Pentair Stock Performance

Shares of PNR stock opened at $76.39 on Friday. The firm has a 50 day moving average of $77.17 and a 200-day moving average of $90.97. The company has a market cap of $12.34 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51. Pentair plc has a 52 week low of $69.93 and a 52 week high of $113.95.

Pentair (NYSE:PNR) last released its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Pentair had a net margin of 15.98% and a return on equity of 21.92%. Pentair’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.11 EPS. On average, equities analysts forecast that Pentair plc will post 5.35 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a $0.27 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.08 annualized dividend and a yield of 1.4%. Pentair’s dividend payout ratio is presently 26.47%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PNR shares. Royal Bank Of Canada reduced their price target on Pentair from $107.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Seaport Research Partners cut their target price on shares of Pentair from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. TD Cowen reduced their target price on shares of Pentair from $90.00 to $75.00 and set a “sell” rating on the stock in a report on Wednesday, April 29th. Oppenheimer decreased their price target on shares of Pentair from $122.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Finally, Barclays decreased their price target on shares of Pentair from $95.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $107.86.

About Pentair

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.