AQR Capital Management LLC Has $51.59 Million Stock Position in Pentair plc (NYSE:PNR)

AQR Capital Management LLC lifted its stake in shares of Pentair plc (NYSE:PNR) by 44.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 672,870 shares of the industrial products company’s stock after buying an additional 207,830 shares during the period. AQR Capital Management LLC owned about 0.41% of Pentair worth $51,589,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Pentair by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after acquiring an additional 121 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of Pentair by 3.9% during the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock worth $270,000 after purchasing an additional 128 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Pentair by 3.8% in the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after buying an additional 129 shares during the period. Retirement Systems of Alabama raised its holdings in Pentair by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock valued at $2,808,000 after buying an additional 139 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in Pentair by 4.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock worth $304,000 after buying an additional 140 shares during the period. 92.37% of the stock is currently owned by institutional investors.

Pentair Price Performance

Shares of PNR opened at $96.99 on Friday. The firm has a market cap of $16.05 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20. Pentair plc has a 52-week low of $57.18 and a 52-week high of $98.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65. The business’s 50 day moving average price is $87.61 and its two-hundred day moving average price is $82.92.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. Pentair’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. On average, equities analysts anticipate that Pentair plc will post 4.25 EPS for the current year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.23 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. Pentair’s dividend payout ratio is presently 24.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Northcoast Research cut shares of Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Barclays increased their price objective on Pentair from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Stifel Nicolaus upped their price target on Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group raised their price objective on Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Pentair has an average rating of “Moderate Buy” and a consensus target price of $92.87.

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.