Balyasny Asset Management L.P. Raises Stock Position in Pentair plc (NYSE:PNR)

Balyasny Asset Management L.P. boosted its stake in Pentair plc (NYSE:PNR - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 494,904 shares of the industrial products company's stock after purchasing an additional 6,335 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.30% of Pentair worth $49,807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PNR. Moody National Bank Trust Division purchased a new position in Pentair during the fourth quarter worth about $989,000. Smartleaf Asset Management LLC boosted its stake in Pentair by 55.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 809 shares of the industrial products company's stock worth $81,000 after buying an additional 287 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in Pentair during the fourth quarter valued at approximately $289,000. Norges Bank purchased a new position in shares of Pentair during the fourth quarter worth approximately $36,568,000. Finally, Park Avenue Securities LLC lifted its holdings in shares of Pentair by 22.2% in the 4th quarter. Park Avenue Securities LLC now owns 23,712 shares of the industrial products company's stock worth $2,386,000 after acquiring an additional 4,308 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company's stock.

Insider Activity at Pentair

In other news, Director David A. /Wi Jones sold 6,558 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the sale, the director now owns 26,313 shares in the company, valued at $2,366,591.22. This represents a 19.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PNR has been the topic of several recent research reports. Citigroup reduced their target price on shares of Pentair from $118.00 to $98.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Mizuho set a $100.00 target price on Pentair in a research note on Tuesday, April 22nd. StockNews.com cut Pentair from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. UBS Group lowered their price objective on Pentair from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Northcoast Research upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $106.93.

Pentair Stock Down 0.0 %

Shares of NYSE PNR traded down $0.01 during mid-day trading on Friday, hitting $93.52. 1,195,867 shares of the stock traded hands, compared to its average volume of 1,499,509. The stock has a fifty day moving average price of $86.52 and a 200-day moving average price of $96.46. 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 $15.39 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.87 and a beta of 1.11. Pentair plc has a 52 week low of $72.63 and a 52 week high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.10. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $988.38 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. During the same period last year, the company posted $0.94 EPS. Research analysts anticipate that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, July 18th. Pentair's payout ratio is 25.84%.

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.