Golden State Equity Partners Cuts Stake in Pentair plc (NYSE:PNR)

Golden State Equity Partners lowered its stake in shares of Pentair plc (NYSE:PNR) by 22.4% in the fourth quarter, Holdings Channel reports. The firm owned 6,401 shares of the industrial products company’s stock after selling 1,852 shares during the period. Golden State Equity Partners’ holdings in Pentair were worth $644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbour Investments Inc. increased its stake 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 purchased a new stake in Pentair during the 4th quarter valued at about $989,000. Algert Global LLC purchased a new stake in Pentair during the 3rd quarter valued at about $479,000. FMR LLC grew its stake in Pentair by 4.7% during the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after acquiring an additional 258,134 shares in the last quarter. Finally, Pathstone Holdings LLC grew its stake in Pentair by 47.4% during the 3rd quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock valued at $1,944,000 after acquiring an additional 6,391 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

PNR stock opened at $103.66 on Monday. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $17.13 billion, a PE ratio of 25.91, a P/E/G ratio of 1.65 and a beta of 1.20. Pentair plc has a 12-month low of $72.03 and a 12-month high of $110.71. The business’s fifty day moving average price is $103.84 and its 200 day moving average price is $96.80.

Pentair Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pentair’s previous quarterly dividend of $0.23. Pentair’s payout ratio is currently 25.00%.

Analyst Ratings Changes

Several analysts recently issued reports on PNR shares. Barclays upped their price objective on shares of Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. KeyCorp reaffirmed a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Citigroup dropped their price target on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Pentair presently has an average rating of “Moderate Buy” and an average target price of $111.07.

About Pentair

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.