Pentair plc (NYSE:PNR) Stake Lifted by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its stake in Pentair plc (NYSE:PNR) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,580 shares of the industrial products company’s stock after acquiring an additional 338 shares during the period. Wealthfront Advisers LLC’s holdings in Pentair were worth $260,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PNR. Assetmark Inc. boosted its holdings in shares of Pentair by 332.5% in the third quarter. Assetmark Inc. now owns 1,319 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 1,014 shares in the last quarter. Apollon Wealth Management LLC bought a new position in shares of Pentair in the third quarter valued at approximately $256,000. CIBC Asset Management Inc boosted its holdings in shares of Pentair by 9.3% in the third quarter. CIBC Asset Management Inc now owns 19,329 shares of the industrial products company’s stock valued at $1,890,000 after acquiring an additional 1,640 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Pentair by 4.1% in the third quarter. Natixis Advisors LLC now owns 103,110 shares of the industrial products company’s stock valued at $10,083,000 after acquiring an additional 4,074 shares in the last quarter. Finally, Claro Advisors LLC bought a new position in shares of Pentair in the third quarter valued at approximately $249,000. 92.37% of the stock is currently owned by institutional investors.

Pentair Stock Up 1.4 %

PNR stock opened at $87.28 on Tuesday. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The company has a market cap of $14.38 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 1.87 and a beta of 1.23. The company has a 50 day moving average of $96.56 and a two-hundred day moving average of $98.72.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The company had revenue of $972.90 million during the quarter, compared to the consensus estimate of $970.95 million. During the same quarter in the prior year, the firm earned $0.87 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. Pentair’s payout ratio is 26.74%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Wolfe Research assumed coverage on shares of Pentair in a report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 target price for the company. Stifel Nicolaus reduced their target price on shares of Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a report on Friday, January 24th. Citigroup reduced their target price on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Northcoast Research upgraded shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $112.93.

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.