Fisher Asset Management LLC Has $14.76 Million Stock Holdings in Pentair plc (NYSE:PNR)

Fisher Asset Management LLC grew its position in shares of Pentair plc (NYSE:PNR) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,637 shares of the industrial products company’s stock after purchasing an additional 5,930 shares during the quarter. Fisher Asset Management LLC owned approximately 0.09% of Pentair worth $14,758,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Harbour Investments Inc. boosted its stake in shares of Pentair by 10.7% during the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock valued at $644,000 after purchasing an additional 636 shares in the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Pentair during the fourth quarter valued at about $989,000. Algert Global LLC acquired a new stake in shares of Pentair during the third quarter valued at about $479,000. FMR LLC boosted its stake in shares of Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after purchasing an additional 258,134 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its stake in shares of Pentair by 47.4% during the third quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock valued at $1,944,000 after purchasing an additional 6,391 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. 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. Barclays lifted their price objective on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, Robert W. Baird lifted their price objective on Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Five 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.25.

Pentair Price Performance

Shares of PNR opened at $91.54 on Tuesday. Pentair plc has a 52-week low of $72.63 and a 52-week high of $110.71. 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 business’s 50 day moving average price is $99.52 and its two-hundred day moving average price is $98.55. The firm has a market cap of $15.09 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.02 by $0.06. The firm had revenue of $972.90 million during 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%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 earnings per share. On average, equities analysts anticipate that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Pentair’s dividend 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.