Goldman Sachs Group Inc. Buys 484,810 Shares of Pentair plc (NYSE:PNR)

Goldman Sachs Group Inc. increased its stake in Pentair plc (NYSE:PNR) by 138.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 834,203 shares of the industrial products company’s stock after buying an additional 484,810 shares during the quarter. Goldman Sachs Group Inc. owned about 0.50% of Pentair worth $60,655,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Lindbrook Capital LLC lifted its position in Pentair by 82.4% in the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after buying an additional 154 shares during the last quarter. M&T Bank Corp lifted its position in Pentair by 0.5% in the fourth quarter. M&T Bank Corp now owns 32,590 shares of the industrial products company’s stock worth $2,369,000 after buying an additional 172 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Pentair by 24.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock worth $64,000 after buying an additional 173 shares during the last quarter. Ieq Capital LLC increased its stake in Pentair by 5.0% in the fourth quarter. Ieq Capital LLC now owns 4,426 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 209 shares during the period. Finally, Quent Capital LLC increased its stake in Pentair by 112.7% in the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 213 shares during the period. 92.37% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the transaction, the chief executive officer now directly owns 38,538 shares in the company, valued at $3,254,534.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.28% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PNR shares. Citigroup increased their target price on Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. KeyCorp increased their target price on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. UBS Group increased their target price on Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. TD Cowen increased their target price on Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Oppenheimer increased their target price on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.93.

Pentair Stock Performance

PNR stock opened at $79.59 on Wednesday. The company has a market capitalization of $13.21 billion, a P/E ratio of 21.17, a PEG ratio of 1.33 and a beta of 1.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. The business has a 50-day moving average price of $80.66 and a 200 day moving average price of $77.06. Pentair plc has a 1-year low of $57.18 and a 1-year high of $85.84.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. As a group, equities research analysts forecast that Pentair plc will post 4.24 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be issued a $0.23 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. Pentair’s dividend payout ratio is presently 24.47%.

About Pentair

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.