Pentair plc (NYSE:PNR) Shares Acquired by Anchor Investment Management LLC

Anchor Investment Management LLC grew its holdings in Pentair plc (NYSE:PNR) by 74.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,809 shares of the industrial products company’s stock after buying an additional 774 shares during the period. Anchor Investment Management LLC’s holdings in Pentair were worth $139,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Pentair in the second quarter worth about $25,000. Crewe Advisors LLC raised its stake in shares of Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 267 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Pentair in the second quarter worth about $48,000. LRI Investments LLC purchased a new position in shares of Pentair in the first quarter worth about $56,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Pentair in the second quarter worth about $67,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

PNR has been the subject of several research analyst reports. Northcoast Research cut Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Barclays raised their price objective on Pentair from $96.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price objective on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Oppenheimer raised 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. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.47.

Pentair Stock Up 0.3 %

Pentair stock opened at $95.88 on Friday. The stock has a market capitalization of $15.87 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 1.75 and a beta of 1.20. Pentair plc has a 12 month low of $57.18 and a 12 month high of $98.23. The business has a 50 day simple moving average of $88.72 and a 200-day simple moving average of $83.43. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. On average, analysts anticipate that Pentair plc will post 4.26 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

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.