Avantax Advisory Services Inc. Has $498,000 Stock Holdings in Pentair plc (NYSE:PNR)

Avantax Advisory Services Inc. lifted its holdings in shares of Pentair plc (NYSE:PNR) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,950 shares of the industrial products company’s stock after purchasing an additional 440 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Pentair were worth $498,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PNR. State Street Corp boosted its position in shares of Pentair by 3.1% during the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after buying an additional 259,922 shares during the period. FMR LLC raised its position in shares of Pentair by 4.7% in the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after purchasing an additional 258,134 shares during the period. Geode Capital Management LLC increased its stake in shares of Pentair by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after purchasing an additional 19,853 shares during the period. Swedbank AB boosted its position in shares of Pentair by 17.9% in the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock valued at $132,141,000 after acquiring an additional 205,000 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Pentair by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company’s stock valued at $101,653,000 after buying an additional 7,434 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PNR. Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Wolfe Research assumed coverage on Pentair in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. KeyCorp restated a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research report on Monday, January 6th. Barclays lifted their price objective on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Stifel Nicolaus dropped their target price on shares of Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.93.

Pentair Price Performance

Shares of PNR opened at $87.44 on Friday. The business’s fifty day moving average is $95.72 and its 200 day moving average is $98.65. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The stock has a market cap of $14.41 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.87 and a beta of 1.23.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. The company had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. Pentair’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Sell-side analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

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

Pentair Company 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.