Corebridge Financial Inc. Sells 929 Shares of Pentair plc (NYSE:PNR)

Corebridge Financial Inc. decreased its position in shares of Pentair plc (NYSE:PNR) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,911 shares of the industrial products company’s stock after selling 929 shares during the quarter. Corebridge Financial Inc.’s holdings in Pentair were worth $4,117,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Pentair by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company’s stock worth $2,034,575,000 after purchasing an additional 148,031 shares in the last quarter. State Street Corp raised its stake in Pentair by 3.1% during the 3rd 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. Geode Capital Management LLC lifted its holdings in Pentair by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after acquiring an additional 19,853 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Pentair by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company’s stock valued at $101,653,000 after acquiring an additional 7,434 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in shares of Pentair by 67.4% in the fourth quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock worth $89,390,000 after acquiring an additional 357,523 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Stifel Nicolaus reduced their price target 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. Citigroup dropped their price objective on shares of Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, January 13th. KeyCorp reaffirmed a “sector weight” rating and issued a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Finally, StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Pentair presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.27.

Pentair Stock Down 2.9 %

Pentair stock opened at $86.76 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The company’s 50-day moving average is $94.54 and its 200-day moving average is $98.84. The firm has a market capitalization of $14.30 billion, a PE ratio of 23.20, a P/E/G ratio of 1.87 and a beta of 1.23. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The firm had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. During the same quarter in the prior year, the company earned $0.87 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts anticipate that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair’s dividend payout ratio is presently 26.74%.

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.