12,195 Shares of Pentair plc $PNR Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. acquired a new stake in shares of Pentair plc (NYSE:PNR – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,195 shares of the industrial products company’s stock, valued at approximately $646,000.

Other hedge funds also recently made changes to their positions in the company. Uncommon Cents Investing Inc bought a new stake in Pentair during the third quarter worth approximately $1,657,000. Nisa Investment Advisors LLC bought a new position in shares of Pentair in the third quarter valued at $1,977,000. Revisor Wealth Management LLC acquired a new stake in shares of Pentair during the 3rd quarter valued at $341,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Pentair during the 3rd quarter valued at $386,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Pentair during the 3rd quarter valued at $296,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Price Performance

Shares of PNR opened at $55.30 on Friday. The business’s 50-day moving average is $56.82 and its 200-day moving average is $68.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.45 and a quick ratio of 0.76. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.41 and a beta of 1.04. Pentair plc has a fifty-two week low of $51.13 and a fifty-two week high of $111.94.

Pentair (NYSE:PNR – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.12 by $0.02. The business had revenue of $932.60 million during the quarter, compared to analysts’ expectations of $943.24 million. Pentair had a net margin of 16.24% and a return on equity of 20.62%. The firm’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. Equities research analysts expect that Pentair plc will post 4.63 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be given a $0.27 dividend. The ex-dividend date is Friday, October 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 2.0%. Pentair’s dividend payout ratio is presently 27.14%.

Analysts Set New Price Targets

PNR has been the subject of several research reports. Wolfe Research raised Pentair from a “peer perform” rating to an “outperform” rating and set a $91.00 price objective for the company in a research note on Tuesday, September 15th. TD Cowen raised Pentair from a “sell” rating to a “hold” rating and cut their target price for the stock from $65.00 to $55.00 in a research report on Wednesday, October 14th. Mizuho reduced their target price on Pentair from $85.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Robert W. Baird dropped their price target on Pentair from $83.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Finally, Weiss Ratings downgraded Pentair from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $76.19.

Check Out Our Latest Report on Pentair

Pentair Profile

(Free Report)

Pentair plc (NYSE: PNR) is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.

See Also

Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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