Harbour Capital Advisors LLC Buys New Position in Pentair plc (NYSE:PNR)

Harbour Capital Advisors LLC purchased a new stake in Pentair plc (NYSE:PNR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,946 shares of the industrial products company's stock, valued at approximately $240,000.

Other large investors have also made changes to their positions in the company. Parvin Asset Management LLC acquired a new stake in shares of Pentair during the fourth quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Pentair during the first quarter valued at $28,000. NBC Securities Inc. acquired a new stake in shares of Pentair during the first quarter valued at $33,000. Colonial Trust Co SC boosted 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 valued at $35,000 after acquiring an additional 240 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake 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 valued at $44,000 after acquiring an additional 285 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PNR shares. JPMorgan Chase & Co. raised Pentair from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $90.00 to $113.00 in a research note on Friday, May 16th. Baird R W raised Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. Robert W. Baird decreased their price objective on Pentair from $114.00 to $107.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Barclays raised their price target on Pentair from $110.00 to $111.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Finally, Stifel Nicolaus decreased their price target on Pentair from $125.00 to $102.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Pentair currently has an average rating of "Buy" and a consensus target price of $107.14.

Pentair Trading Up 0.9%

Shares of Pentair stock traded up $0.96 during trading hours on Friday, reaching $103.60. The stock had a trading volume of 1,827,105 shares, compared to its average volume of 1,463,267. The firm has a 50 day simple moving average of $96.32 and a two-hundred day simple moving average of $95.00. The firm has a market capitalization of $17.04 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 1.98 and a beta of 1.10. The company has a current ratio of 1.89, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. Pentair plc has a 1 year low of $73.45 and a 1 year high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.10. The company 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 last year, the business posted $0.94 EPS. As a group, equities research analysts anticipate 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 of this dividend is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. Pentair's dividend payout ratio (DPR) is 25.84%.

Insider Transactions at Pentair

In related news, Director David A. /Wi Jones sold 6,558 shares of the firm's stock in a transaction dated 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 now directly owns 26,313 shares in the company, valued at approximately $2,366,591.22. This trade represents a 19.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company's stock.

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.