Pictet Asset Management Holding SA trimmed its holdings in shares of Pentair plc (NYSE:PNR – Free Report) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,906,622 shares of the industrial products company’s stock after selling 317,209 shares during the period. Pictet Asset Management Holding SA owned about 2.42% of Pentair worth $340,240,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Pentair by 71.4% in the fourth 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 during the last quarter. Wexford Capital LP acquired a new position in shares of Pentair during the 3rd quarter worth about $26,000. Motiv8 Investments LLC acquired a new position in shares of Pentair during the 4th quarter worth about $27,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Pentair during the 4th quarter worth about $43,000. Finally, Park Square Financial Group LLC raised its holdings in shares of Pentair by 502.8% in the 4th 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 during the period. Institutional investors own 92.37% of the company’s stock.
Pentair Stock Up 0.5%
PNR stock opened at $76.39 on Friday. The company has a market cap of $12.34 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05. The business has a 50-day simple moving average of $77.17 and a 200 day simple moving average of $90.97. Pentair plc has a 52 week low of $69.93 and a 52 week high of $113.95. 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 Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 annualized dividend and a yield of 1.4%. Pentair’s dividend payout ratio (DPR) is 26.47%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. Wall Street Zen downgraded Pentair from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Jefferies Financial Group restated a “buy” rating and issued a $125.00 price target (down from $135.00) on shares of Pentair in a research note on Tuesday, March 31st. TD Cowen cut their price target on Pentair from $90.00 to $75.00 and set a “sell” rating for the company in a report on Wednesday, April 29th. Weiss Ratings cut shares of Pentair from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Barclays decreased their price objective on shares of Pentair from $95.00 to $92.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $107.86.
Get Our Latest Research Report on Pentair
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.
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