SG Americas Securities LLC Trims Stock Position in Pentair plc $PNR

SG Americas Securities LLC cut its holdings in Pentair plc (NYSE:PNR) by 33.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,649 shares of the industrial products company’s stock after selling 120,999 shares during the quarter. SG Americas Securities LLC owned approximately 0.15% of Pentair worth $21,050,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its stake in shares of Pentair by 8.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 8,240 shares of the industrial products company’s stock worth $858,000 after purchasing an additional 661 shares during the period. World Investment Advisors increased its stake in Pentair by 26.6% during the fourth quarter. World Investment Advisors now owns 2,890 shares of the industrial products company’s stock worth $301,000 after acquiring an additional 608 shares during the last quarter. Compound Planning Inc. increased its position in Pentair by 7.2% during the 4th quarter. Compound Planning Inc. now owns 6,378 shares of the industrial products company’s stock worth $664,000 after purchasing an additional 427 shares in the last quarter. Invesco Ltd. increased its position in shares of Pentair by 3.1% in the fourth quarter. Invesco Ltd. now owns 3,414,386 shares of the industrial products company’s stock worth $355,574,000 after acquiring an additional 101,650 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its stake in shares of Pentair by 383.1% during the fourth quarter. Corient Private Wealth LLC now owns 116,056 shares of the industrial products company’s stock worth $12,086,000 after purchasing an additional 92,031 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

PNR has been the subject of several analyst reports. Royal Bank Of Canada decreased their target price on shares of Pentair from $107.00 to $101.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Stifel Nicolaus dropped their target price on shares of Pentair from $110.00 to $103.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings downgraded Pentair from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of Pentair from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Oppenheimer reduced their price target on Pentair from $122.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Pentair currently has a consensus rating of “Hold” and an average price target of $107.86.

Pentair Trading Up 2.3%

NYSE:PNR opened at $74.85 on Thursday. The stock has a fifty day simple moving average of $77.70 and a 200 day simple moving average of $91.27. Pentair plc has a 1-year low of $69.93 and a 1-year high of $113.95. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05.

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

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, July 24th. Pentair’s payout ratio is currently 26.47%.

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.