Concentric Capital Strategies LP Buys Shares of 84,145 Pentair plc (NYSE:PNR)

Concentric Capital Strategies LP bought a new position in shares of Pentair plc (NYSE:PNR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 84,145 shares of the industrial products company's stock, valued at approximately $8,468,000. Concentric Capital Strategies LP owned about 0.05% of Pentair as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PNR. Crestline Management LP raised its position in shares of Pentair by 21.4% during the 4th quarter. Crestline Management LP now owns 29,922 shares of the industrial products company's stock valued at $3,011,000 after buying an additional 5,268 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Pentair in the fourth quarter valued at $6,841,000. Cetera Investment Advisers lifted its stake in Pentair by 12.3% in the fourth quarter. Cetera Investment Advisers now owns 65,634 shares of the industrial products company's stock valued at $6,605,000 after buying an additional 7,183 shares during the last quarter. Bridgefront Capital LLC acquired a new position in Pentair in the 4th quarter valued at about $409,000. Finally, Captrust Financial Advisors raised its stake in shares of Pentair by 4.5% during the fourth quarter. Captrust Financial Advisors now owns 40,332 shares of the industrial products company's stock worth $4,059,000 after purchasing an additional 1,723 shares during the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Pentair Price Performance

Shares of PNR opened at $91.76 on Wednesday. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The company has a market cap of $15.10 billion, a P/E ratio of 24.54, a PEG ratio of 1.87 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The stock has a fifty day moving average price of $86.45 and a 200 day moving average price of $96.56.

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

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a $0.25 dividend. The ex-dividend date is Friday, July 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Pentair's dividend payout ratio (DPR) is 25.84%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PNR shares. Baird R W upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. Northcoast Research raised Pentair from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Robert W. Baird cut their target price on shares of Pentair from $114.00 to $107.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Stifel Nicolaus reduced their target price on Pentair from $125.00 to $102.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, StockNews.com downgraded Pentair from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $106.93.

Pentair Profile

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.

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