Avior Wealth Management LLC Trims Stake in Pentair plc (NYSE:PNR)

Avior Wealth Management LLC lessened its position in Pentair plc (NYSE:PNR) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,304 shares of the industrial products company’s stock after selling 550 shares during the quarter. Avior Wealth Management LLC’s holdings in Pentair were worth $604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PNR. Assetmark Inc. boosted its holdings in shares of Pentair by 935.1% during the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after buying an additional 346 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Pentair by 97.6% during the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after buying an additional 202 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Pentair by 112.7% during the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after buying an additional 213 shares during the last quarter. Baystate Wealth Management LLC bought a new stake in shares of Pentair during the third quarter valued at approximately $30,000. Finally, Operose Advisors LLC purchased a new position in Pentair in the 3rd quarter worth approximately $34,000. 92.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on PNR shares. KeyCorp increased their target price on Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Stifel Nicolaus boosted their target price on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. BNP Paribas began coverage on shares of Pentair in a report on Tuesday, March 12th. They set a “neutral” rating and a $86.00 price target on the stock. Barclays boosted their price objective on shares of Pentair from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, UBS Group boosted their target price on shares of Pentair from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pentair has an average rating of “Moderate Buy” and an average target price of $87.33.

Pentair Stock Performance

Shares of NYSE:PNR opened at $79.15 on Thursday. Pentair plc has a 12 month low of $51.38 and a 12 month high of $85.81. The firm’s 50-day moving average is $79.86 and its 200 day moving average is $71.30. The company has a market capitalization of $13.14 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.52 and a beta of 1.20. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.86 by $0.01. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The business had revenue of $984.60 million during the quarter, compared to analyst estimates of $975.36 million. During the same quarter in the previous year, the business posted $0.82 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Research analysts predict that Pentair plc will post 4.21 EPS for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s payout ratio is 24.53%.

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.