Pentair plc (NYSE:PNR) Stock Position Lifted by Perpetual Ltd

Perpetual Ltd grew its position in Pentair plc (NYSE:PNR) by 12.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,797 shares of the industrial products company’s stock after acquiring an additional 16,557 shares during the quarter. Perpetual Ltd’s holdings in Pentair were worth $13,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parvin Asset Management LLC bought a new position in Pentair in the fourth quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Pentair during the 1st quarter worth approximately $28,000. NBC Securities Inc. bought a new stake in shares of Pentair in the 1st quarter worth approximately $33,000. Colonial Trust Co SC boosted its position in Pentair by 230.8% during the 4th quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 240 shares during the period. Finally, Versant Capital Management Inc boosted its position in Pentair by 128.4% during the 1st quarter. Versant Capital Management Inc now owns 507 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 285 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Trading Up 0.9%

NYSE:PNR opened at $103.60 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.89 and a quick ratio of 1.22. The stock has a market cap of $17.04 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.96 and a beta of 1.10. The stock’s 50-day moving average is $96.32 and its two-hundred day moving average is $95.10. Pentair plc has a fifty-two week low of $73.45 and a fifty-two week high of $110.71.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $988.38 million. Pentair had a net margin of 15.87% and a return on equity of 21.24%. During the same quarter in the prior year, the firm earned $0.94 EPS. As a group, equities research analysts forecast that Pentair plc will post 4.77 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 1st. Investors of record on Friday, July 18th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.97%. Pentair’s payout ratio is 25.84%.

Wall Street Analysts Forecast Growth

PNR has been the topic of several analyst reports. Citigroup dropped their target price on Pentair from $118.00 to $98.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Barclays upped their price target on shares of Pentair from $110.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Wall Street Zen raised Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. upgraded shares of Pentair from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $90.00 to $113.00 in a research report on Friday, May 16th. Finally, UBS Group decreased their target price on Pentair from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $107.14.

Insider Buying and Selling at Pentair

In related news, Director David A. /Wi Jones sold 6,558 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the transaction, the director now owns 26,313 shares of the company’s stock, valued at approximately $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.