Pentair plc $PNR Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System lifted its position in shares of Pentair plc (NYSE:PNRFree Report) by 57.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 503,272 shares of the industrial products company’s stock after purchasing an additional 183,089 shares during the period. California Public Employees Retirement System’s holdings in Pentair were worth $43,840,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC raised its stake in Pentair by 71.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $26,000 after buying an additional 105 shares in the last quarter. Wexford Capital LP acquired a new position in shares of Pentair during the 3rd quarter worth about $26,000. Motiv8 Investments LLC purchased a new position in shares of Pentair in the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Pentair in the 4th quarter valued at about $43,000. Finally, Park Square Financial Group LLC raised its position in shares of Pentair by 502.8% during the 4th quarter. Park Square Financial Group LLC now owns 434 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 362 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

PNR has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on Pentair from $91.00 to $72.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. Jefferies Financial Group set a $90.00 price target on shares of Pentair in a research note on Wednesday, July 15th. Stifel Nicolaus reissued a “hold” rating and set a $65.00 price objective (down from $103.00) on shares of Pentair in a report on Thursday, July 16th. Barclays reduced their price objective on shares of Pentair from $95.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. Finally, Wolfe Research cut shares of Pentair from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Pentair presently has an average rating of “Hold” and a consensus price target of $93.87.

Read Our Latest Report on Pentair

Pentair Stock Down 0.5%

PNR opened at $62.15 on Tuesday. Pentair plc has a 52 week low of $57.60 and a 52 week high of $113.95. The business has a 50 day moving average price of $73.30 and a two-hundred day moving average price of $87.26. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51. The company has a market cap of $10.04 billion, a PE ratio of 15.23, a P/E/G ratio of 1.36 and a beta of 1.03.

Pentair (NYSE:PNRGet Free Report) last announced its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.05. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The company’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the business posted $1.11 EPS. As a group, research analysts anticipate that Pentair plc will post 4.66 EPS for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 annualized dividend and a dividend yield of 1.7%. Pentair’s dividend payout ratio (DPR) is currently 26.47%.

Pentair Company Profile

(Free Report)

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.

Further Reading

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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