Twinbeech Capital LP Takes $354,000 Position in Pentair plc (NYSE:PNR)

Twinbeech Capital LP acquired a new position in Pentair plc (NYSE:PNR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,514 shares of the industrial products company's stock, valued at approximately $354,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in Pentair by 55.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 809 shares of the industrial products company's stock worth $81,000 after purchasing an additional 287 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Pentair in the 4th quarter worth about $289,000. Norges Bank acquired a new stake in Pentair in the 4th quarter worth about $36,568,000. Q3 Asset Management acquired a new stake in Pentair in the 4th quarter worth about $320,000. Finally, Atria Wealth Solutions Inc. raised its stake in Pentair by 91.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 4,150 shares of the industrial products company's stock worth $418,000 after purchasing an additional 1,986 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

Insider Buying and Selling

In related 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 value 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 trade represents a 19.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PNR has been the subject of several analyst reports. Northcoast Research upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. The Goldman Sachs Group set a $95.00 target price on shares of Pentair and gave the company a "neutral" rating in a report on Tuesday, April 22nd. Barclays raised their target price on shares of Pentair from $110.00 to $111.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Citigroup decreased their target price on shares of Pentair from $118.00 to $98.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, UBS Group decreased their target price on shares of Pentair from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Pentair presently has a consensus rating of "Buy" and a consensus price target of $107.14.

Pentair Stock Down 0.8%

PNR stock traded down $0.75 during midday trading on Wednesday, reaching $98.98. 100,387 shares of the company's stock traded hands, compared to its average volume of 1,508,541. The firm's fifty day moving average price is $89.19 and its 200-day moving average price is $96.29. The company has a market cap of $16.28 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 1.87 and a beta of 1.11. 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 plc has a 52 week low of $72.63 and a 52 week 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, beating analysts' consensus estimates of $1.01 by $0.10. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $988.38 million. During the same period last year, the business earned $0.94 earnings per share. As a group, sell-side analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, July 18th. Pentair's payout ratio is currently 25.84%.

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.