Teacher Retirement System of Texas Acquires 415,163 Shares of Pentair plc (NYSE:PNR)

Teacher Retirement System of Texas lifted its holdings in Pentair plc (NYSE:PNR) by 219.0% in the fourth quarter, HoldingsChannel reports. The fund owned 604,758 shares of the industrial products company’s stock after buying an additional 415,163 shares during the period. Teacher Retirement System of Texas’ holdings in Pentair were worth $60,863,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PNR. Natixis Advisors LLC lifted its holdings in shares of Pentair by 4.1% in the 3rd quarter. Natixis Advisors LLC now owns 103,110 shares of the industrial products company’s stock worth $10,083,000 after acquiring an additional 4,074 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Pentair by 0.7% in the 3rd quarter. Swiss National Bank now owns 492,787 shares of the industrial products company’s stock worth $48,190,000 after acquiring an additional 3,300 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Pentair by 47.4% in the 3rd quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock worth $1,944,000 after acquiring an additional 6,391 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of 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 worth $3,777,000 after buying an additional 1,276 shares during the period. Finally, Avior Wealth Management LLC increased its stake in shares of Pentair by 3.8% in the third quarter. Avior Wealth Management LLC now owns 9,163 shares of the industrial products company’s stock worth $896,000 after buying an additional 332 shares during the period. 92.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PNR. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Pentair in a research note on Thursday, November 21st. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. KeyCorp reaffirmed a “sector weight” rating and issued a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Stifel Nicolaus decreased their target price on shares of Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Robert W. Baird lifted their target price on shares of Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $112.93.

Pentair Stock Performance

Shares of PNR stock opened at $88.34 on Friday. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The stock has a market cap 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. 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 company’s fifty day moving average price is $95.91 and its 200-day moving average price is $98.57.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, beating 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 firm had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. During the same quarter in the previous year, the business posted $0.87 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts expect that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

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