Alliancebernstein L.P. reduced its stake in shares of Pentair PLC. (NYSE:PNR) by 2.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 342,256 shares of the industrial products company’s stock after selling 7,348 shares during the period. Alliancebernstein L.P. owned about 0.19% of Pentair PLC. worth $22,774,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Pentair PLC. by 4.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 46,649 shares of the industrial products company’s stock valued at $2,932,000 after acquiring an additional 2,100 shares during the period. Swiss National Bank grew its position in shares of Pentair PLC. by 2.8% during the 2nd quarter. Swiss National Bank now owns 629,157 shares of the industrial products company’s stock valued at $41,864,000 after acquiring an additional 17,400 shares during the period. Dai Ichi Life Insurance Company Ltd grew its position in shares of Pentair PLC. by 736.2% during the 1st quarter. Dai Ichi Life Insurance Company Ltd now owns 136,301 shares of the industrial products company’s stock valued at $8,557,000 after acquiring an additional 120,000 shares during the period. BlackRock Inc. grew its position in shares of Pentair PLC. by 1,577.2% during the 1st quarter. BlackRock Inc. now owns 11,564,179 shares of the industrial products company’s stock valued at $726,001,000 after acquiring an additional 10,874,699 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Pentair PLC. by 29.9% during the 1st quarter. Victory Capital Management Inc. now owns 4,964 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 1,143 shares during the period. 85.59% of the stock is owned by hedge funds and other institutional investors.

Shares of Pentair PLC. (NYSE PNR) opened at 67.10 on Thursday. Pentair PLC. has a 52-week low of $53.80 and a 52-week high of $69.03. The stock has a market cap of $12.18 billion, a PE ratio of 19.75 and a beta of 1.40. The stock’s 50 day moving average is $62.44 and its 200 day moving average is $63.89.

Pentair PLC. (NYSE:PNR) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.00. Pentair PLC. had a return on equity of 13.17% and a net margin of 12.86%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $1.11 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts forecast that Pentair PLC. will post $3.51 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Friday, October 20th will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, October 19th. Pentair PLC.’s payout ratio is 40.71%.

A number of research analysts have recently weighed in on PNR shares. Zacks Investment Research raised shares of Pentair PLC. from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, July 12th. Royal Bank Of Canada reissued a “buy” rating and set a $77.00 target price on shares of Pentair PLC. in a research report on Wednesday, July 12th. Morgan Stanley reissued an “equal weight” rating and set a $70.00 target price (up from $69.00) on shares of Pentair PLC. in a research report on Wednesday, July 26th. Jefferies Group LLC reissued a “hold” rating and set a $59.00 target price on shares of Pentair PLC. in a research report on Friday, July 14th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $68.00 target price on shares of Pentair PLC. in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $67.23.

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About Pentair PLC.

Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.

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Institutional Ownership by Quarter for Pentair PLC. (NYSE:PNR)

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