Advisors Asset Management Inc. Grows Position in Pentair plc (NYSE:PNR)

Advisors Asset Management Inc. lifted its holdings in shares of Pentair plc (NYSE:PNR) by 45.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,251 shares of the industrial products company’s stock after acquiring an additional 11,249 shares during the quarter. Advisors Asset Management Inc.’s holdings in Pentair were worth $3,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Natixis Advisors LLC lifted its holdings in 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 during the period. Swiss National Bank lifted its holdings in Pentair by 0.7% in the third quarter. Swiss National Bank now owns 492,787 shares of the industrial products company’s stock valued at $48,190,000 after acquiring an additional 3,300 shares during the period. Pathstone Holdings LLC lifted its holdings in Pentair by 47.4% in the third quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock valued at $1,944,000 after acquiring an additional 6,391 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Pentair by 3.4% in the third quarter. PNC Financial Services Group Inc. now owns 38,620 shares of the industrial products company’s stock valued at $3,777,000 after acquiring an additional 1,276 shares during the period. Finally, Avior Wealth Management LLC lifted its holdings in Pentair by 3.8% in the third quarter. Avior Wealth Management LLC now owns 9,163 shares of the industrial products company’s stock valued at $896,000 after acquiring an additional 332 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on PNR shares. Stifel Nicolaus lowered their target price on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, January 24th. KeyCorp reaffirmed a “sector weight” rating and issued a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. Citigroup decreased their price objective on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Finally, Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $112.93.

Pentair Stock Down 0.8 %

Shares of PNR opened at $88.34 on Friday. The business’s 50 day moving average is $95.91 and its 200 day moving average is $98.57. The company has a market capitalization of $14.56 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

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

Pentair Announces Dividend

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

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.