Alliancebernstein L.P. Has $284.18 Million Holdings in Pentair plc (NYSE:PNR)

Alliancebernstein L.P. decreased its position in shares of Pentair plc (NYSE:PNR) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,823,728 shares of the industrial products company’s stock after selling 62,772 shares during the period. Alliancebernstein L.P. owned 1.71% of Pentair worth $284,180,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PNR. Teacher Retirement System of Texas lifted its position in shares of Pentair by 219.0% during the 4th quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company’s stock worth $60,863,000 after purchasing an additional 415,163 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Pentair by 862.2% in the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock valued at $43,212,000 after acquiring an additional 395,962 shares during the period. Norges Bank bought a new stake in shares of Pentair in the fourth quarter valued at approximately $36,568,000. Allianz Asset Management GmbH grew its stake in shares of Pentair by 67.4% in the fourth quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock worth $89,390,000 after acquiring an additional 357,523 shares during the last quarter. Finally, World Investment Advisors LLC bought a new position in Pentair during the third quarter worth $26,748,000. 92.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Citigroup lowered their price target on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Barclays reduced their price objective on Pentair from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Robert W. Baird upgraded Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 target price for the company in a research note on Tuesday, March 25th. Finally, KeyCorp reiterated a “sector weight” rating and set a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Pentair currently has an average rating of “Moderate Buy” and a consensus price target of $112.27.

Pentair Trading Up 0.8 %

PNR stock opened at $87.52 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 1.87 and a beta of 1.23. The business has a fifty day moving average price of $94.23 and a 200 day moving average price of $98.82. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.06. The business had revenue of $972.90 million for the quarter, compared to the consensus estimate of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. Analysts expect that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair’s dividend payout ratio (DPR) is presently 26.74%.

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.