Crestline Management LP raised its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 21.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 29,922 shares of the industrial products company's stock after acquiring an additional 5,268 shares during the period. Crestline Management LP's holdings in Pentair were worth $3,011,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Northern Trust Corp lifted its holdings in shares of Pentair by 27.9% during the 4th quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company's stock valued at $197,482,000 after buying an additional 428,184 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of Pentair by 219.0% in the fourth quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company's stock worth $60,863,000 after acquiring an additional 415,163 shares during the period. FMR LLC increased its position in Pentair by 7.0% during the fourth quarter. FMR LLC now owns 6,101,253 shares of the industrial products company's stock valued at $614,030,000 after acquiring an additional 396,581 shares during the last quarter. Norges Bank purchased a new stake in Pentair during the fourth quarter valued at $36,568,000. Finally, Allianz Asset Management GmbH lifted its holdings in Pentair by 67.4% in the fourth quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company's stock valued at $89,390,000 after acquiring an additional 357,523 shares during the period. Hedge funds and other institutional investors own 92.37% of the company's stock.
Insiders Place Their Bets
In related 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 in the company, valued at $2,366,591.22. This represents a 19.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is owned by company insiders.
Pentair Trading Up 0.5%
Shares of NYSE:PNR traded up $0.48 on Tuesday, hitting $98.64. 240,084 shares of the company's stock were exchanged, compared to its average volume of 1,497,279. The stock has a market capitalization of $16.23 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. 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 business's 50 day simple moving average is $86.66 and its two-hundred day simple moving average is $96.43.
Pentair (NYSE:PNR - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.10. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $988.38 million. During the same period in the prior year, the business earned $0.94 EPS. Analysts anticipate that Pentair plc will post 4.77 EPS for the current fiscal year.
Pentair Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. Pentair's dividend payout ratio is currently 25.84%.
Wall Street Analysts Forecast Growth
PNR has been the subject of a number of recent research reports. StockNews.com downgraded Pentair from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Baird R W upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 25th. Robert W. Baird cut their price objective on shares of Pentair from $114.00 to $107.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Barclays boosted their target price on Pentair from $110.00 to $111.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Finally, UBS Group cut their price target on Pentair from $115.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Pentair presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.93.
Read Our Latest Report on PNR
About Pentair
(
Free Report)
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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