Rakuten Investment Management Inc. acquired a new position in Pentair plc (NYSE:PNR – Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,274 shares of the industrial products company’s stock, valued at approximately $977,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Tsfg LLC acquired a new position in Pentair in the 2nd quarter worth approximately $37,000. Next Level Wealth Planning LLC acquired a new stake in Pentair during the 3rd quarter valued at approximately $37,000. Sound Financial Strategies Group LLC acquired a new stake in Pentair during the 2nd quarter valued at approximately $38,000. Plan A Wealth LLC acquired a new stake in Pentair during the 2nd quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Pentair in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 92.37% of the company’s stock.
Pentair Stock Performance
Shares of PNR stock opened at $68.11 on Friday. Pentair plc has a 12-month low of $51.13 and a 12-month high of $109.89. The company has a market capitalization of $10.87 billion, a P/E ratio of 18.07, a P/E/G ratio of 1.60 and a beta of 1.01. The company has a current ratio of 1.47, a quick ratio of 0.77 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $57.45 and its two-hundred day moving average is $75.57.
Pentair (NYSE:PNR – Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.11. The company had revenue of $976.40 million for the quarter, compared to analysts’ expectations of $963.71 million. Pentair had a return on equity of 20.10% and a net margin of 15.44%. Pentair’s revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 EPS. Analysts expect that Pentair plc will post 4.70 EPS for the current fiscal year.
Pentair Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 6th. Investors of record on Friday, October 23rd were given a dividend of $0.27 per share. The ex-dividend date was Friday, October 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.6%. Pentair’s payout ratio is presently 28.65%.
Analysts Set New Price Targets
Several brokerages recently issued reports on PNR. Weiss Ratings cut shares of Pentair from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, October 28th. Zacks Research raised shares of Pentair from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 7th. Robert W. Baird set a $78.00 price target on Pentair in a research report on Wednesday, October 28th. TD Cowen raised Pentair from a “sell” rating to a “hold” rating and cut their price target for the stock from $65.00 to $55.00 in a research report on Wednesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $81.00 price objective on shares of Pentair in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $76.59.
Check Out Our Latest Stock Analysis on Pentair
Pentair Profile
Pentair plc is a water solutions company that develops and supplies products and services for managing, treating and moving water. Its offerings include water filtration and treatment systems, pumps, valves and related equipment for residential, commercial, industrial and agricultural customers.
The company also serves the pool and spa market, providing equipment and systems such as pumps, filters, heaters and water-care products. Pentair serves customers in markets around the world.
Founded in 1966, Pentair has evolved from its origins as a diversified manufacturer into a company focused on water-related businesses.
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