Cibc World Markets Corp Grows Position in Pentair plc (NYSE:PNR)

Cibc World Markets Corp increased its position in shares of Pentair plc (NYSE:PNR) by 15.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 26,072 shares of the industrial products company’s stock after buying an additional 3,537 shares during the quarter. Cibc World Markets Corp’s holdings in Pentair were worth $2,624,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV grew its stake in Pentair by 8.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 5,746 shares of the industrial products company’s stock worth $578,000 after buying an additional 425 shares during the last quarter. Gitterman Wealth Management LLC lifted its position in Pentair by 6.6% during the 4th quarter. Gitterman Wealth Management LLC now owns 4,724 shares of the industrial products company’s stock worth $475,000 after acquiring an additional 293 shares during the period. Frank Rimerman Advisors LLC grew its stake in shares of Pentair by 4.1% in the 4th quarter. Frank Rimerman Advisors LLC now owns 7,007 shares of the industrial products company’s stock valued at $705,000 after purchasing an additional 274 shares during the last quarter. Intact Investment Management Inc. purchased a new position in shares of Pentair in the 4th quarter valued at approximately $60,000. Finally, LBP AM SA purchased a new position in shares of Pentair in the 4th quarter valued at approximately $7,494,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays lifted 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. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Stifel Nicolaus lowered their target price on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, KeyCorp restated a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.93.

Pentair Stock Down 0.8 %

PNR opened at $88.34 on Friday. The business’s fifty day moving average is $95.91 and its two-hundred day moving average is $98.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The company has a market cap of $14.56 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.87 and a beta of 1.23. Pentair plc has a one year low of $72.63 and a one year high of $110.71.

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

Pentair Dividend Announcement

The business 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 $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. Pentair’s dividend payout ratio (DPR) is 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.