Arizona State Retirement System Purchases 502 Shares of Pentair plc (NYSE:PNR)

Arizona State Retirement System increased its position in Pentair plc (NYSE:PNR) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 48,068 shares of the industrial products company’s stock after buying an additional 502 shares during the quarter. Arizona State Retirement System’s holdings in Pentair were worth $4,838,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Richardson Financial Services Inc. lifted its position in Pentair by 16.1% in the 4th quarter. Richardson Financial Services Inc. now owns 916 shares of the industrial products company’s stock worth $92,000 after buying an additional 127 shares during the last quarter. Quarry LP lifted its position in Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 134 shares during the last quarter. Annex Advisory Services LLC lifted its position in Pentair by 2.9% in the fourth quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company’s stock valued at $540,000 after purchasing an additional 151 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Pentair by 1.3% in the fourth quarter. Sanctuary Advisors LLC now owns 12,094 shares of the industrial products company’s stock valued at $1,251,000 after purchasing an additional 161 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Pentair by 0.6% in the fourth quarter. Van ECK Associates Corp now owns 27,893 shares of the industrial products company’s stock valued at $2,807,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PNR. KeyCorp reiterated a “sector weight” rating and issued a $115.00 price objective on shares of Pentair in a research report on Monday, January 6th. Robert W. Baird boosted their price objective on Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Stifel Nicolaus lowered their price objective on Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Wolfe Research began coverage on Pentair in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price objective for the company. Finally, Barclays boosted their target price on Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

Pentair Trading Down 1.9 %

Pentair stock opened at $88.15 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $98.33 and its two-hundred day simple moving average is $98.64. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23.

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

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Thursday, April 17th. Pentair’s payout ratio is currently 26.74%.

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.