Pentair plc (NYSE:PNR) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its holdings in Pentair plc (NYSE:PNR) by 7.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 19,235 shares of the industrial products company’s stock after buying an additional 1,300 shares during the period. State of Alaska Department of Revenue’s holdings in Pentair were worth $1,880,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PNR. Allspring Global Investments Holdings LLC raised its position in shares of 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 purchasing an additional 121 shares during the period. Wedmont Private Capital grew its position in Pentair by 3.9% in the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after buying an additional 128 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Pentair by 3.8% during the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after acquiring an additional 129 shares during the period. Inspire Advisors LLC increased its position in shares of Pentair by 1.6% during the 3rd quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock valued at $794,000 after purchasing an additional 130 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in Pentair by 0.4% during the second quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after acquiring an additional 139 shares during the period. Institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PNR. TD Cowen lifted their price target on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Oppenheimer boosted their target price on shares of Pentair from $98.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus lifted their target price on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, UBS Group lifted their price target on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.80.

Pentair Stock Performance

Shares of NYSE:PNR opened at $98.47 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The business’s fifty day moving average price is $93.99 and its two-hundred day moving average price is $85.40. Pentair plc has a fifty-two week low of $59.61 and a fifty-two week high of $101.00. The stock has a market capitalization of $16.27 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.77 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS. As a group, analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s payout ratio is presently 23.00%.

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.