Pentair plc (NYSE:PNR) Shares Bought by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. raised its position in Pentair plc (NYSE:PNR) by 138.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 834,203 shares of the industrial products company’s stock after purchasing an additional 484,810 shares during the period. Goldman Sachs Group Inc.’s holdings in Pentair were worth $60,655,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in Pentair by 82.4% in the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 154 shares during the last quarter. M&T Bank Corp grew its holdings in Pentair by 0.5% in the fourth quarter. M&T Bank Corp now owns 32,590 shares of the industrial products company’s stock valued at $2,369,000 after purchasing an additional 172 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Pentair by 24.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 173 shares during the last quarter. Ieq Capital LLC lifted its position in shares of Pentair by 5.0% in the fourth quarter. Ieq Capital LLC now owns 4,426 shares of the industrial products company’s stock valued at $322,000 after acquiring an additional 209 shares in the last quarter. Finally, Quent Capital LLC lifted its position in shares of Pentair by 112.7% in the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Performance

NYSE PNR opened at $79.59 on Wednesday. The company has a market capitalization of $13.21 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $80.66 and its 200 day moving average price is $77.06. Pentair plc has a twelve month low of $57.18 and a twelve month high of $85.84.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. On average, research analysts predict that Pentair plc will post 4.24 earnings per share for the current year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 annualized dividend and a yield of 1.16%. Pentair’s dividend payout ratio is presently 24.47%.

Insiders Place Their Bets

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the sale, the chief executive officer now owns 38,538 shares in the company, valued at $3,254,534.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PNR. Stifel Nicolaus upped their price objective on Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. UBS Group upped their price objective on Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. TD Cowen upped their price objective on Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Oppenheimer upped their price objective on Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $91.00 price objective on shares of Pentair in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.93.

Pentair 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.