Anchor Investment Management LLC Buys 774 Shares of Pentair plc (NYSE:PNR)

Anchor Investment Management LLC lifted its stake in Pentair plc (NYSE:PNR) by 74.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,809 shares of the industrial products company’s stock after purchasing an additional 774 shares during the quarter. Anchor Investment Management LLC’s holdings in Pentair were worth $139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Opal Wealth Advisors LLC purchased a new stake in Pentair during the 2nd quarter valued at $25,000. Crewe Advisors LLC raised its holdings in Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after buying an additional 267 shares during the period. Family Firm Inc. purchased a new stake in Pentair during the 2nd quarter valued at $48,000. LRI Investments LLC purchased a new stake in Pentair during the 1st quarter valued at $56,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Pentair during the 2nd quarter valued at $67,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

Shares of PNR stock opened at $95.88 on Friday. Pentair plc has a 1-year low of $57.18 and a 1-year high of $98.23. The stock’s 50-day moving average is $88.72 and its 200 day moving average is $83.43. The company has a market cap of $15.87 billion, a P/E ratio of 25.50, a PEG ratio of 1.75 and a beta of 1.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts predict that Pentair plc will post 4.26 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, October 18th. Pentair’s payout ratio is currently 24.47%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PNR shares. Barclays increased their price target on Pentair from $96.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday. Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. KeyCorp increased their target price on Pentair from $92.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group increased their target price on Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada increased their target price on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.47.

Pentair 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.