Mackenzie Financial Corp Purchases 41,046 Shares of Pentair plc (NYSE:PNR)

Key Points

• Mackenzie Financial Corp has increased its stake in Pentair plc by 244.5% in Q1, now owning 57,833 shares valued at $5,059,000.
• Pentair reported earnings of $1.39 per share, exceeding analysts' estimates, with a revenue of $1.12 billion for the last quarter.
• The company has a dividend yield of 1.0%, with a recent quarterly dividend of $0.25 per share paid to investors on August 1st.

Mackenzie Financial Corp boosted its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 244.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,833 shares of the industrial products company's stock after acquiring an additional 41,046 shares during the quarter. Mackenzie Financial Corp's holdings in Pentair were worth $5,059,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PNR. Parvin Asset Management LLC acquired a new position in shares of Pentair in the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Pentair in the 1st quarter worth approximately $28,000. Colonial Trust Co SC lifted its position in shares of Pentair by 230.8% in the 4th 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 period. NBC Securities Inc. acquired a new position in shares of Pentair in the 1st quarter worth approximately $33,000. Finally, North Capital Inc. acquired a new position in shares of Pentair in the 1st quarter worth approximately $38,000. 92.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PNR shares. JPMorgan Chase & Co. boosted their price target on shares of Pentair from $113.00 to $116.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Robert W. Baird raised their price target on shares of Pentair from $107.00 to $121.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Mizuho raised their price target on shares of Pentair from $118.00 to $122.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. UBS Group reduced their price target on shares of Pentair from $115.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Bank of America cut shares of Pentair from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $106.00 to $100.00 in a report on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.36.

Pentair Stock Up 1.6%

Shares of PNR stock traded up $1.61 on Monday, hitting $102.23. The stock had a trading volume of 1,455,788 shares, compared to its average volume of 2,067,475. The business has a 50 day moving average of $101.95 and a 200 day moving average of $95.50. The stock has a market cap of $16.76 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 1.93 and a beta of 1.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.45 and a quick ratio of 0.84. Pentair plc has a 12-month low of $74.25 and a 12-month high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.12 billion. Pentair had a net margin of 14.86% and a return on equity of 21.62%. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. As a group, analysts expect that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Friday, July 18th were paid a $0.25 dividend. The ex-dividend date was Friday, July 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Pentair's dividend payout ratio (DPR) is presently 27.32%.

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.