Pentair plc (NYSE:PNR) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in shares of Pentair plc (NYSE:PNR) by 44.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,977 shares of the industrial products company’s stock after selling 97,695 shares during the period. Thrivent Financial for Lutherans owned approximately 0.07% of Pentair worth $12,377,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Cibc World Markets Corp increased its position in shares of Pentair by 15.7% during the fourth quarter. Cibc World Markets Corp now owns 26,072 shares of the industrial products company’s stock worth $2,624,000 after acquiring an additional 3,537 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of Pentair by 8.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 5,746 shares of the industrial products company’s stock worth $578,000 after acquiring an additional 425 shares during the period. Gitterman Wealth Management LLC increased its position in shares of Pentair by 6.6% during the fourth quarter. Gitterman Wealth Management LLC now owns 4,724 shares of the industrial products company’s stock worth $475,000 after acquiring an additional 293 shares during the period. Frank Rimerman Advisors LLC increased its position in shares of Pentair by 4.1% during the fourth quarter. Frank Rimerman Advisors LLC now owns 7,007 shares of the industrial products company’s stock worth $705,000 after acquiring an additional 274 shares during the period. Finally, Intact Investment Management Inc. purchased a new stake in shares of Pentair during the fourth quarter worth $60,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Price Performance

Shares of PNR opened at $87.44 on Friday. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The company has a market capitalization of $14.41 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. The firm has a 50-day simple moving average of $95.72 and a 200-day simple moving average of $98.56. 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 announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share 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 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 prior year, the firm earned $0.87 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. Pentair’s dividend payout ratio (DPR) is 26.74%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PNR. Citigroup cut their price objective 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 increased their target price on Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Stifel Nicolaus dropped their target price on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, January 24th. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Finally, Robert W. Baird increased their target price on Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.93.

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.