Teza Capital Management LLC grew its stake in Pentair plc (NYSE:PNR - Free Report) by 2,466.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,098 shares of the industrial products company's stock after buying an additional 89,470 shares during the period. Pentair accounts for 1.4% of Teza Capital Management LLC's investment portfolio, making the stock its 3rd largest holding. Teza Capital Management LLC owned about 0.06% of Pentair worth $9,369,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of PNR. Park Avenue Securities LLC grew its stake in Pentair by 22.2% during the 4th quarter. Park Avenue Securities LLC now owns 23,712 shares of the industrial products company's stock worth $2,386,000 after buying an additional 4,308 shares during the last quarter. Burney Co. boosted its holdings in shares of Pentair by 6.9% in the fourth quarter. Burney Co. now owns 3,999 shares of the industrial products company's stock valued at $402,000 after acquiring an additional 258 shares during the period. Ritholtz Wealth Management purchased a new position in shares of Pentair during the fourth quarter worth approximately $211,000. Merit Financial Group LLC grew its position in shares of Pentair by 179.0% during the fourth quarter. Merit Financial Group LLC now owns 7,393 shares of the industrial products company's stock worth $744,000 after acquiring an additional 4,743 shares during the last quarter. Finally, Annex Advisory Services LLC increased its holdings in shares of Pentair by 2.9% in the 4th quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company's stock valued at $540,000 after acquiring an additional 151 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, Director David A. /Wi Jones sold 6,558 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $89.94, for a total value of $589,826.52. Following the sale, the director now owns 26,313 shares of the company's stock, valued at approximately $2,366,591.22. This represents a 19.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on PNR. UBS Group decreased their price target on shares of Pentair from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Barclays increased their target price on shares of Pentair from $110.00 to $111.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Royal Bank of Canada raised their price target on Pentair from $99.00 to $101.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Northcoast Research raised Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Baird R W raised Pentair from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 25th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $107.14.
View Our Latest Report on PNR
Pentair Price Performance
NYSE PNR traded down $0.95 during mid-day trading on Friday, hitting $96.70. The stock had a trading volume of 424,617 shares, compared to its average volume of 1,506,894. The company has a 50 day simple moving average of $88.62 and a 200 day simple moving average of $96.44. The company has a market cap of $15.91 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 1.87 and a beta of 1.11. Pentair plc has a 52-week low of $72.63 and a 52-week high of $110.71. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46.
Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $988.38 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. During the same quarter last year, the business posted $0.94 earnings per share. Equities analysts forecast that Pentair plc will post 4.77 EPS for the current fiscal year.
Pentair Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a $0.25 dividend. The ex-dividend date is Friday, July 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Pentair's dividend payout ratio is presently 25.84%.
Pentair Profile
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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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