Proficio Capital Partners LLC Makes New Investment in Pentair plc (NYSE:PNR)

Proficio Capital Partners LLC purchased a new position in Pentair plc (NYSE:PNR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 54,652 shares of the industrial products company’s stock, valued at approximately $55,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Bank of Canada FI raised its holdings in shares of Pentair by 862.2% in the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock valued at $43,212,000 after buying an additional 395,962 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Pentair by 67.4% during the 4th quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock worth $89,390,000 after purchasing an additional 357,523 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Pentair during the third quarter worth about $26,748,000. National Pension Service grew its holdings in Pentair by 726.4% in the 4th quarter. National Pension Service now owns 296,554 shares of the industrial products company’s stock valued at $29,845,000 after buying an additional 260,668 shares during the period. Finally, State Street Corp lifted its stake in shares of Pentair by 3.1% in the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock valued at $856,257,000 after purchasing an additional 259,922 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PNR has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price objective 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. Citigroup reduced their price objective on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, January 13th. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. KeyCorp restated a “sector weight” rating and set a $115.00 price target on shares of Pentair in a report on Monday, January 6th. Finally, Robert W. Baird upgraded Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 target price for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.27.

Pentair Stock Down 2.9 %

PNR opened at $86.76 on Friday. The stock has a market capitalization of $14.30 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.87 and a beta of 1.23. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a twelve month low of $72.63 and a twelve month high of $110.71. The firm has a 50 day moving average price of $94.54 and a 200-day moving average price of $98.69.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. Pentair had a return on equity of 20.94% and a net margin of 15.32%. 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 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities research analysts forecast that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.15%. The ex-dividend date is Thursday, April 17th. Pentair’s 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.