Pentair plc (NYSE:PNR) Shares Purchased by Global Retirement Partners LLC

Global Retirement Partners LLC increased its stake in shares of Pentair plc (NYSE:PNR) by 30.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,843 shares of the industrial products company’s stock after purchasing an additional 900 shares during the period. Global Retirement Partners LLC’s holdings in Pentair were worth $376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Pentair during the 2nd quarter worth approximately $25,000. Crewe Advisors LLC raised its position in shares of Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Pentair in the 2nd quarter valued at approximately $48,000. LRI Investments LLC acquired a new position in shares of Pentair in the 1st quarter valued at approximately $56,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Pentair in the 2nd quarter valued at approximately $67,000. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Stock Down 0.7 %

Shares of Pentair stock opened at $98.36 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. Pentair plc has a 1 year low of $57.18 and a 1 year high of $99.95. The stock has a 50-day moving average price of $91.67 and a 200 day moving average price of $84.53. The company has a market cap of $16.33 billion, a P/E ratio of 26.16, a P/E/G ratio of 1.77 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the firm posted $1.03 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. As a group, analysts expect that Pentair plc will post 4.26 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s payout ratio is currently 24.47%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PNR shares. Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Mizuho boosted their price target on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada boosted their price target on Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Oppenheimer upped their price objective on Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Barclays increased their price target on Pentair from $96.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.93.

About Pentair

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.