Harvest Fund Management Co. Ltd Sells 1,772 Shares of Pentair plc (NYSE:PNR)

Harvest Fund Management Co. Ltd reduced its holdings in shares of Pentair plc (NYSE:PNR) by 81.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 392 shares of the industrial products company’s stock after selling 1,772 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Pentair were worth $28,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PNR. AE Wealth Management LLC grew its position in Pentair by 9.5% during the third quarter. AE Wealth Management LLC now owns 4,337 shares of the industrial products company’s stock valued at $281,000 after acquiring an additional 378 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Pentair by 97.6% in the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 202 shares during the last quarter. Czech National Bank grew its holdings in shares of Pentair by 47.8% in the third quarter. Czech National Bank now owns 28,858 shares of the industrial products company’s stock worth $1,869,000 after purchasing an additional 9,332 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Pentair by 4.5% in the third quarter. Handelsbanken Fonder AB now owns 34,900 shares of the industrial products company’s stock worth $2,260,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Pentair by 4.5% in the third quarter. Commonwealth Equity Services LLC now owns 34,622 shares of the industrial products company’s stock worth $2,242,000 after purchasing an additional 1,479 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PNR shares. Barclays raised their target price on shares of Pentair from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday. BNP Paribas started coverage on shares of Pentair in a report on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 target price on the stock. Oppenheimer raised their target price on shares of Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group restated a “neutral” rating and issued a $91.00 target price on shares of Pentair in a report on Friday, March 22nd. Finally, Northcoast Research raised Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.93.

Pentair Stock Performance

Shares of Pentair stock opened at $79.96 on Friday. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $13.27 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.37 and a beta of 1.20. The business has a fifty day simple moving average of $80.35 and a two-hundred day simple moving average of $71.89. Pentair plc has a 12 month low of $53.88 and a 12 month high of $85.81.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. On average, equities analysts forecast that Pentair plc will post 4.23 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio is currently 24.47%.

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.