Pentair plc (NYSE:PNR) Shares Sold by Taika Capital LP

Taika Capital LP decreased its holdings in shares of Pentair plc (NYSE:PNR) by 22.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,379 shares of the industrial products company’s stock after selling 4,742 shares during the quarter. Pentair comprises approximately 1.3% of Taika Capital LP’s holdings, making the stock its 27th biggest holding. Taika Capital LP’s holdings in Pentair were worth $1,648,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PNR. Harbour Investments Inc. lifted its position in shares of Pentair by 10.7% during the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock worth $644,000 after purchasing an additional 636 shares in the last quarter. Moody National Bank Trust Division acquired a new position in shares of Pentair during the fourth quarter worth $989,000. Algert Global LLC acquired a new position in shares of Pentair in the 3rd quarter valued at approximately $479,000. FMR LLC raised its position in shares of Pentair by 4.7% in the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after purchasing an additional 258,134 shares in the last quarter. Finally, Pathstone Holdings LLC raised its position in shares of Pentair by 47.4% in the 3rd quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock valued at $1,944,000 after purchasing an additional 6,391 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PNR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Pentair in a research report on Thursday, November 21st. Robert W. Baird upped their target price on Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. KeyCorp restated a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. Finally, Barclays upped their price objective on Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $111.25.

Pentair Trading Down 1.9 %

Shares of NYSE PNR opened at $88.15 on Monday. The company has a market cap of $14.53 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. 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’s 50 day simple moving average is $98.33 and its 200 day simple moving average is $98.74.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The company had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 earnings per share. Equities research analysts expect that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. Pentair’s dividend payout ratio (DPR) is 26.74%.

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.