Pentair plc (NYSE:PNR) Stake Reduced by Taika Capital LP

Taika Capital LP cut its holdings in Pentair plc (NYSE:PNR) by 22.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,379 shares of the industrial products company’s stock after selling 4,742 shares during the quarter. Pentair comprises about 1.3% of Taika Capital LP’s investment portfolio, making the stock its 27th biggest holding. Taika Capital LP’s holdings in Pentair were worth $1,648,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbour Investments Inc. raised its position in Pentair by 10.7% in the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock worth $644,000 after acquiring an additional 636 shares in the last quarter. Moody National Bank Trust Division bought a new stake in Pentair in the fourth quarter worth about $989,000. Algert Global LLC bought a new stake in Pentair in the third quarter worth about $479,000. FMR LLC raised its position in Pentair by 4.7% in the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after acquiring an additional 258,134 shares in the last quarter. Finally, Pathstone Holdings LLC raised its position in Pentair by 47.4% in the third quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock worth $1,944,000 after acquiring an additional 6,391 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Oppenheimer boosted their target price on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Pentair in a research report on Thursday, November 21st. Citigroup cut their target price on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Barclays boosted their target price on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Pentair presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.25.

Pentair Stock Down 1.9 %

Pentair stock opened at $88.15 on Monday. The firm’s 50 day moving average price is $98.33 and its two-hundred day moving average price is $98.74. Pentair plc has a twelve month low of $72.63 and a twelve month high of $110.71. The firm has a market cap of $14.53 billion, a PE ratio of 23.57, a P/E/G ratio of 1.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The company had revenue of $972.90 million during the quarter, compared to the consensus estimate of $970.95 million. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 earnings per share. On average, research analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 1.13%. Pentair’s dividend payout ratio (DPR) is currently 26.74%.

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.