Chevy Chase Trust Holdings LLC Sells 2,010 Shares of Pentair plc (NYSE:PNR)

Chevy Chase Trust Holdings LLC decreased its holdings in Pentair plc (NYSE:PNR) by 2.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 86,724 shares of the industrial products company’s stock after selling 2,010 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Pentair were worth $8,728,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PNR. National Bank of Canada FI grew its stake in shares of Pentair by 862.2% during 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 buying an additional 395,962 shares during the last quarter. World Investment Advisors LLC purchased a new stake in Pentair in the third quarter worth about $26,748,000. State Street Corp lifted its holdings in Pentair by 3.1% in the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after buying an additional 259,922 shares during the period. FMR LLC lifted its holdings 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 buying an additional 258,134 shares during the period. Finally, Swedbank AB lifted its holdings in Pentair by 17.9% in the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after buying an additional 205,000 shares during the period. 92.37% of the stock is owned by institutional investors.

Pentair Trading Down 0.5 %

NYSE:PNR opened at $96.71 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.46. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The company has a market cap of $15.98 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. The company has a 50 day simple moving average of $101.58 and a two-hundred day simple moving average of $97.85.

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

Pentair Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were given a dividend of $0.25 per share. This is an increase from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. Pentair’s payout ratio is presently 26.74%.

Analyst Ratings Changes

Several analysts have commented on PNR shares. Northcoast Research upgraded shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. UBS Group raised their price objective on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Stifel Nicolaus lowered their target price on shares of Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a report on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Pentair in a report on Thursday, November 21st. Finally, Robert W. Baird lifted their target price on shares of Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $111.25.

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.