Pentair plc (NYSE:PNR) Shares Purchased by Creative Planning

Creative Planning boosted its holdings in shares of Pentair plc (NYSE:PNR) by 9.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,180 shares of the industrial products company’s stock after purchasing an additional 1,519 shares during the period. Creative Planning’s holdings in Pentair were worth $1,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PNR. State Board of Administration of Florida Retirement System lifted its holdings in shares of Pentair by 5.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock valued at $15,820,000 after buying an additional 8,966 shares during the period. Cetera Investment Advisers boosted its position in Pentair by 222.8% in the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock worth $4,328,000 after purchasing an additional 34,959 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Pentair during the 1st quarter worth approximately $1,103,000. Swedbank AB increased its holdings in shares of Pentair by 0.9% during the 2nd quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock valued at $87,885,000 after purchasing an additional 10,000 shares in the last quarter. Finally, ORG Partners LLC acquired a new position in shares of Pentair in the 2nd quarter valued at $631,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Stock Performance

NYSE:PNR opened at $99.10 on Wednesday. The company has a market cap of $16.37 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.76 and a beta of 1.20. Pentair plc has a twelve month low of $57.45 and a twelve month high of $101.00. The company’s 50-day moving average price is $93.40 and its 200-day moving average price is $85.21. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. Pentair’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 EPS. On average, sell-side analysts forecast that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Wall Street Analyst Weigh In

PNR has been the topic of several analyst reports. Stifel Nicolaus raised their price target on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. TD Cowen raised their target price on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on Pentair from $101.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. KeyCorp increased their price target on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group boosted their price objective on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.80.

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.