Inceptionr LLC bought a new stake in shares of Pentair plc (NYSE:PNR – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,757 shares of the industrial products company’s stock, valued at approximately $1,721,000.
Other hedge funds have also added to or reduced their stakes in the company. Wexford Capital LP acquired a new stake in shares of Pentair during the 3rd quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings 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 worth $26,000 after purchasing an additional 105 shares during the period. Motiv8 Investments LLC bought a new stake in Pentair in the fourth quarter valued at $27,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Pentair during the fourth quarter valued at about $43,000. Finally, Park Square Financial Group LLC boosted 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 purchasing an additional 362 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on PNR. Weiss Ratings downgraded Pentair from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Royal Bank Of Canada lowered Pentair from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $101.00 to $74.00 in a research report on Wednesday, July 15th. Robert W. Baird decreased their price target on shares of Pentair from $110.00 to $83.00 and set an “outperform” rating for the company in a research note on Wednesday, July 15th. Bank of America lowered their price objective on shares of Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $65.00 target price (down from $103.00) on shares of Pentair in a research report on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $91.40.
Pentair Trading Down 1.5%
Shares of PNR stock opened at $62.10 on Friday. Pentair plc has a fifty-two week low of $57.60 and a fifty-two week high of $113.95. The firm has a market capitalization of $10.04 billion, a P/E ratio of 15.22, a PEG ratio of 1.33 and a beta of 1.03. The stock’s fifty day moving average is $72.55 and its two-hundred day moving average is $86.37. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.19 and a current ratio of 1.88.
Pentair (NYSE:PNR – Get Free Report) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.05. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $1.11 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts expect that Pentair plc will post 4.8 earnings per share for the current fiscal year.
Pentair Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.7%. Pentair’s dividend payout ratio is currently 26.47%.
Pentair Profile
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.
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