Pentair plc (NYSE:PNR) Shares Bought by Global Retirement Partners LLC

Global Retirement Partners LLC lifted its holdings in shares of Pentair plc (NYSE:PNR) by 30.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,843 shares of the industrial products company’s stock after purchasing an additional 900 shares during the quarter. Global Retirement Partners LLC’s holdings in Pentair were worth $376,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in PNR. American International Group Inc. increased its stake in Pentair by 2.4% in the fourth quarter. American International Group Inc. now owns 44,720 shares of the industrial products company’s stock valued at $3,252,000 after purchasing an additional 1,039 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Pentair by 28.0% during the fourth quarter. Wellington Management Group LLP now owns 221,599 shares of the industrial products company’s stock worth $16,112,000 after acquiring an additional 48,527 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Pentair by 8.8% during the first quarter. Ballentine Partners LLC now owns 3,646 shares of the industrial products company’s stock worth $312,000 after acquiring an additional 295 shares during the last quarter. Mcdonald Partners LLC grew its position in shares of Pentair by 1.4% during the first quarter. Mcdonald Partners LLC now owns 51,868 shares of the industrial products company’s stock worth $4,432,000 after acquiring an additional 725 shares during the last quarter. Finally, Affiance Financial LLC purchased a new position in shares of Pentair during the first quarter worth approximately $201,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Down 0.7 %

PNR opened at $98.36 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96. The stock has a market capitalization of $16.33 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 1.77 and a beta of 1.20. The business has a 50-day moving average of $91.67 and a two-hundred day moving average of $84.53. Pentair plc has a 12 month low of $57.18 and a 12 month high of $99.95.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, research analysts expect that Pentair plc will post 4.26 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, October 18th. Pentair’s payout ratio is currently 24.47%.

Analysts Set New Price Targets

PNR has been the topic of a number of research reports. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Mizuho lifted their price target on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Royal Bank of Canada lifted their price target on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Barclays lifted their price target on Pentair from $96.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, KeyCorp lifted their price target on Pentair from $97.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Pentair has a consensus rating of “Moderate Buy” and a consensus target price of $95.93.

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.