Oppenheimer Asset Management Inc. Makes New $231,000 Investment in Pentair plc (NYSE:PNR)

Oppenheimer Asset Management Inc. bought a new stake in Pentair plc (NYSE:PNR - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,645 shares of the industrial products company's stock, valued at approximately $231,000.

A number of other hedge funds have also recently added to or reduced their stakes in PNR. Parvin Asset Management LLC purchased a new position in shares of Pentair during the fourth quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Pentair in the 1st quarter valued at approximately $28,000. NBC Securities Inc. purchased a new position in shares of Pentair in the 1st quarter valued at approximately $33,000. Colonial Trust Co SC raised its stake in shares of Pentair by 230.8% during the fourth quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company's stock worth $35,000 after purchasing an additional 240 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Pentair by 128.4% during the first quarter. Versant Capital Management Inc now owns 507 shares of the industrial products company's stock worth $44,000 after purchasing an additional 285 shares during the period. Hedge funds and other institutional investors own 92.37% of the company's stock.

Pentair Price Performance

NYSE PNR traded up $2.19 during trading hours on Tuesday, reaching $104.85. The company's stock had a trading volume of 1,691,318 shares, compared to its average volume of 1,500,247. Pentair plc has a fifty-two week low of $73.45 and a fifty-two week high of $110.71. The stock has a market cap of $17.25 billion, a PE ratio of 27.09, a PEG ratio of 1.98 and a beta of 1.10. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.89. The company's 50-day moving average is $96.79 and its two-hundred day moving average is $94.87.

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 (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.10. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $988.38 million. Pentair had a return on equity of 21.24% and a net margin of 15.87%. During the same period in the prior year, the business earned $0.94 earnings per share. Analysts forecast that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a $0.25 dividend. The ex-dividend date is Friday, July 18th. This represents a $1.00 annualized dividend and a yield of 0.95%. Pentair's payout ratio is currently 25.84%.

Insiders Place Their Bets

In other news, Director David A. /Wi Jones sold 6,558 shares of the firm'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 sale, the director owned 26,313 shares in the company, valued at $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.45% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Pentair from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Baird R W upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 25th. The Goldman Sachs Group set a $95.00 target price on Pentair and gave the stock a "neutral" rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. raised Pentair from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $90.00 to $113.00 in a report on Friday, May 16th. Finally, Barclays raised their target price on Pentair from $110.00 to $111.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Pentair presently has an average rating of "Buy" and an average price target of $107.14.

Pentair Company 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.