Raymond James Financial Inc. Purchases Shares of 148,932 Pentair plc (NYSE:PNR)

Raymond James Financial Inc. purchased a new stake in Pentair plc (NYSE:PNR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 148,932 shares of the industrial products company’s stock, valued at approximately $14,989,000. Raymond James Financial Inc. owned 0.09% of Pentair at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PNR. Apollon Wealth Management LLC acquired a new stake in shares of Pentair in the third quarter valued at approximately $256,000. CIBC Asset Management Inc increased its stake in shares of Pentair by 9.3% during the third quarter. CIBC Asset Management Inc now owns 19,329 shares of the industrial products company’s stock valued at $1,890,000 after acquiring an additional 1,640 shares during the period. Natixis Advisors LLC increased its stake in shares of Pentair by 4.1% during the third quarter. Natixis Advisors LLC now owns 103,110 shares of the industrial products company’s stock valued at $10,083,000 after acquiring an additional 4,074 shares during the period. Claro Advisors LLC acquired a new position in shares of Pentair during the third quarter valued at approximately $249,000. Finally, Swiss National Bank increased its stake in shares of Pentair by 0.7% during the third quarter. Swiss National Bank now owns 492,787 shares of the industrial products company’s stock valued at $48,190,000 after acquiring an additional 3,300 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on PNR shares. KeyCorp reiterated a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Pentair in a research note on Thursday, November 21st. Robert W. Baird raised their price objective on shares of Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus reduced their target price on shares of Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $112.93.

Pentair Trading Up 0.2 %

Pentair stock opened at $87.35 on Wednesday. The company has a 50 day moving average price of $96.34 and a 200 day moving average price of $98.71. Pentair plc has a 52 week low of $72.63 and a 52 week high of $110.71. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The firm has a market capitalization of $14.40 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 1.87 and a beta of 1.23.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The firm had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. During the same quarter last year, the business posted $0.87 EPS. The company’s revenue was down 1.2% on a year-over-year basis. Research analysts forecast that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio is 26.74%.

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.