Kentucky Retirement Systems Has $1.07 Million Position in Pentair plc (NYSE:PNR)

Kentucky Retirement Systems lowered its stake in Pentair plc (NYSE:PNR) by 5.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,553 shares of the industrial products company’s stock after selling 673 shares during the period. Kentucky Retirement Systems’ holdings in Pentair were worth $1,073,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. UBS Group AG increased its holdings in shares of Pentair by 5.2% in the fourth quarter. UBS Group AG now owns 479,261 shares of the industrial products company’s stock valued at $34,847,000 after purchasing an additional 23,494 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Pentair during the 4th quarter worth $2,908,000. State Board of Administration of Florida Retirement System grew its holdings in Pentair by 5.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock worth $15,820,000 after acquiring an additional 8,966 shares during the period. Point72 Europe London LLP acquired a new stake in Pentair during the 4th quarter worth $921,000. Finally, Kodai Capital Management LP acquired a new stake in Pentair during the 4th quarter worth $173,280,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jerome O. Pedretti sold 24,747 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the sale, the chief executive officer now owns 38,538 shares in the company, valued at approximately $3,254,534.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Pentair Stock Down 0.5 %

NYSE PNR traded down $0.45 on Monday, reaching $88.05. The company had a trading volume of 320,157 shares, compared to its average volume of 1,645,396. The firm has a market capitalization of $14.57 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 1.60 and a beta of 1.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65. Pentair plc has a 1-year low of $57.18 and a 1-year high of $88.96. The company’s fifty day moving average is $79.42 and its 200-day moving average is $78.81.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm earned $1.03 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, research analysts forecast that Pentair plc will post 4.25 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 annualized dividend and a dividend yield of 1.04%. Pentair’s dividend payout ratio is 24.47%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays lifted their target price on shares of Pentair from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group lifted their target price on shares of Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Northcoast Research lowered shares of Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. The Goldman Sachs Group boosted their price target on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Stifel Nicolaus boosted their price target on shares of Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.87.

Pentair 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.