Pentair plc (NYSE:PNR) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its position in Pentair plc (NYSE:PNR - Free Report) by 34.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,524 shares of the industrial products company's stock after purchasing an additional 5,800 shares during the quarter. Canada Pension Plan Investment Board's holdings in Pentair were worth $2,267,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. grew its position in shares of Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company's stock worth $34,000 after buying an additional 294 shares during the last quarter. Eastern Bank grew its holdings in Pentair by 144.9% in the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company's stock worth $51,000 after purchasing an additional 300 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Pentair during the fourth quarter worth $55,000. Friedenthal Financial purchased a new stake in shares of Pentair during the 4th quarter valued at $56,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Pentair in the 4th quarter worth $60,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on PNR shares. Stifel Nicolaus decreased their price target on Pentair from $125.00 to $102.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Citigroup lowered their target price on shares of Pentair from $118.00 to $98.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Mizuho set a $100.00 price target on shares of Pentair in a research note on Tuesday, April 22nd. Baird R W upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. Finally, The Goldman Sachs Group set a $95.00 price objective on shares of Pentair and gave the company a "neutral" rating in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $106.93.

Pentair Stock Performance

NYSE:PNR traded down $0.37 during trading hours on Tuesday, reaching $89.62. The company had a trading volume of 112,643 shares, compared to its average volume of 1,499,054. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. Pentair plc has a 1-year low of $72.63 and a 1-year high of $110.71. The business's 50 day moving average price is $86.65 and its 200-day moving average price is $96.85. The firm has a market cap of $14.74 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13.

Pentair (NYSE:PNR - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.10. The firm 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 in the previous year, the business posted $0.94 EPS. Research analysts forecast that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors 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 yield of 1.12%. 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.