KBC Group NV cut its holdings in Pentair plc (NYSE:PNR – Free Report) by 60.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 385,640 shares of the industrial products company’s stock after selling 597,041 shares during the quarter. KBC Group NV owned approximately 0.24% of Pentair worth $33,593,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. SEB Asset Management AB bought a new stake in shares of Pentair during the first quarter valued at approximately $7,147,000. Swiss National Bank grew its holdings in shares of Pentair by 7.1% in the 1st quarter. Swiss National Bank now owns 480,287 shares of the industrial products company’s stock valued at $41,838,000 after buying an additional 31,900 shares during the period. California Public Employees Retirement System raised its position in shares of Pentair by 57.2% during the first quarter. California Public Employees Retirement System now owns 503,272 shares of the industrial products company’s stock worth $43,840,000 after purchasing an additional 183,089 shares during the period. Wealthfront Advisers LLC boosted its holdings in shares of Pentair by 7.1% in the first quarter. Wealthfront Advisers LLC now owns 5,460 shares of the industrial products company’s stock valued at $476,000 after buying an additional 362 shares during the period. Finally, Sigma Planning Corp grew its holdings in shares of Pentair by 7.1% during the first quarter. Sigma Planning Corp now owns 7,862 shares of the industrial products company’s stock worth $685,000 after buying an additional 524 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.
Pentair Price Performance
Pentair stock opened at $62.15 on Tuesday. The firm has a market cap of $10.04 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.36 and a beta of 1.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.19. The stock’s fifty day moving average price is $73.30 and its two-hundred day moving average price is $87.26. Pentair plc has a one year low of $57.60 and a one year high of $113.95.
Pentair Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be given 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 1.7%. Pentair’s dividend payout ratio (DPR) is presently 26.47%.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on PNR. Wall Street Zen downgraded Pentair from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Jefferies Financial Group set a $90.00 price objective on Pentair in a research report on Wednesday, July 15th. TD Cowen reduced their target price on Pentair from $90.00 to $75.00 and set a “sell” rating for the company in a research note on Wednesday, April 29th. Citigroup dropped their price target on Pentair from $112.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group reduced their price objective on shares of Pentair from $91.00 to $72.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $93.87.
Check Out Our Latest Stock Analysis 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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