Zurcher Kantonalbank Zurich Cantonalbank Purchases 57,010 Shares of Pentair plc (NYSE:PNR)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Pentair plc (NYSE:PNR) by 13.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 478,628 shares of the industrial products company’s stock after buying an additional 57,010 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pentair were worth $34,801,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. increased its position in shares of Pentair by 935.1% during the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 346 shares during the period. IFP Advisors Inc increased its position in shares of Pentair by 97.6% during the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 202 shares during the period. Quent Capital LLC increased its position in shares of Pentair by 112.7% during the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 213 shares during the period. Baystate Wealth Management LLC bought a new stake in Pentair in the third quarter valued at $30,000. Finally, Operose Advisors LLC acquired a new position in Pentair during the third quarter worth $34,000. 92.37% of the stock is currently owned by institutional investors.

Pentair Price Performance

Pentair stock opened at $80.03 on Wednesday. The business’s 50-day simple moving average is $79.76 and its 200 day simple moving average is $71.24. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 1.53 and a beta of 1.20. Pentair plc has a 12-month low of $51.38 and a 12-month high of $85.81. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.62.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.01. The business had revenue of $984.60 million for the quarter, compared to analysts’ expectations of $975.36 million. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.82 earnings per share. As a group, research analysts anticipate that Pentair plc will post 4.21 earnings per share for the current year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s dividend payout ratio is 24.53%.

Analyst Ratings Changes

PNR has been the subject of several recent analyst reports. StockNews.com lowered Pentair from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. KeyCorp increased their price objective on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $91.00 price objective on shares of Pentair in a research note on Friday, March 22nd. Northcoast Research upgraded Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Monday. Finally, Royal Bank of Canada increased their price objective on Pentair from $78.00 to $87.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pentair has an average rating of “Moderate Buy” and a consensus target price of $87.33.

Pentair Company Profile

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.