Pictet Asset Management Holding SA Lowers Holdings in Pentair plc (NYSE:PNR)

Pictet Asset Management Holding SA trimmed its holdings in Pentair plc (NYSE:PNR) by 7.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,691,381 shares of the industrial products company’s stock after selling 395,891 shares during the quarter. Pictet Asset Management Holding SA owned approximately 2.84% of Pentair worth $472,141,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PNR. Quarry LP boosted its position in shares of Pentair by 105.5% during the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 134 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 294 shares in the last quarter. Eastern Bank lifted its stake in Pentair by 144.9% in the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 300 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Pentair during the 4th quarter valued at about $55,000. Finally, Friedenthal Financial purchased a new position in shares of Pentair during the fourth quarter valued at about $56,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Stock Performance

PNR stock opened at $89.19 on Friday. The firm has a market cap of $14.70 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.87 and a beta of 1.23. Pentair plc has a twelve month low of $72.63 and a twelve month high of $110.71. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $94.86 and its two-hundred day simple moving average is $98.69.

Pentair (NYSE:PNR) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. Analysts predict that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. Pentair’s payout ratio is 26.74%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PNR shares. Baird R W raised Pentair from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Robert W. Baird upgraded shares of Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price target on the stock in a research report on Tuesday. Barclays lowered their price objective on shares of Pentair from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Finally, KeyCorp restated a “sector weight” rating and set a $115.00 target price on shares of Pentair in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.27.

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.