Bank of New York Mellon Corp Lowers Stake in Pentair plc $PNR

Bank of New York Mellon Corp lowered its position in Pentair plc (NYSE:PNR) by 2.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 951,420 shares of the industrial products company’s stock after selling 21,848 shares during the period. Bank of New York Mellon Corp’s holdings in Pentair were worth $99,081,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Pentair by 71.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 105 shares in the last quarter. Wexford Capital LP bought a new stake in shares of Pentair in the 3rd quarter valued at about $26,000. Park Square Financial Group LLC boosted its holdings in Pentair by 502.8% during the 4th quarter. Park Square Financial Group LLC now owns 434 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 362 shares during the period. Clearstead Advisors LLC boosted its holdings in Pentair by 86.4% during the 3rd quarter. Clearstead Advisors LLC now owns 440 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 204 shares during the period. Finally, MUFG Securities EMEA plc bought a new position in Pentair during the 2nd quarter worth approximately $50,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Stock Performance

Shares of PNR stock opened at $73.17 on Monday. The stock has a fifty day moving average of $81.24 and a 200 day moving average of $94.10. Pentair plc has a 52 week low of $69.93 and a 52 week high of $113.95. The firm has a market capitalization of $11.83 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.24 and a beta of 1.05. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm earned $1.11 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, research analysts expect that Pentair plc will post 5.35 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, July 24th. Pentair’s dividend payout ratio is presently 26.47%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Robert W. Baird set a $110.00 price objective on Pentair in a research report on Wednesday, April 29th. Barclays decreased their target price on shares of Pentair from $95.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Royal Bank Of Canada lowered their price target on shares of Pentair from $107.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Citigroup cut their price target on shares of Pentair from $112.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Finally, Stifel Nicolaus decreased their price objective on shares of Pentair from $110.00 to $103.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $107.86.

Pentair Company Profile

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.