New England Research & Management Inc. Acquires 5,500 Shares of Pentair plc (NYSE:PNR)

New England Research & Management Inc. lifted its holdings in shares of Pentair plc (NYSE:PNR) by 142.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,350 shares of the industrial products company’s stock after acquiring an additional 5,500 shares during the period. New England Research & Management Inc.’s holdings in Pentair were worth $914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in Pentair by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 121 shares in the last quarter. Wedmont Private Capital raised its position in Pentair by 3.9% in the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after buying an additional 128 shares during the last quarter. Fifth Third Bancorp lifted its stake in Pentair by 3.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after acquiring an additional 129 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in Pentair by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after acquiring an additional 139 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in shares of Pentair by 4.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock worth $304,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Performance

Shares of NYSE PNR traded down $0.06 during midday trading on Monday, hitting $95.82. The company’s stock had a trading volume of 590,940 shares, compared to its average volume of 1,559,014. The stock has a fifty day moving average price of $88.88 and a 200 day moving average price of $83.53. The firm has a market capitalization of $15.86 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 1.71 and a beta of 1.20. Pentair plc has a one year low of $57.18 and a one year high of $98.23. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.08. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. On average, research analysts forecast that Pentair plc will post 4.26 EPS for the current fiscal year.

Pentair Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PNR. Barclays raised their price target on shares of Pentair from $96.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. KeyCorp upped their target price on Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price target on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Oppenheimer boosted their price objective on Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Stifel Nicolaus raised their target price on Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.