Vivaldi Capital Management LP Takes $7.10 Million Position in Pentair plc (NYSE:PNR)

Vivaldi Capital Management LP acquired a new position in shares of Pentair plc (NYSE:PNR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 69,351 shares of the industrial products company's stock, valued at approximately $7,103,000. Pentair accounts for 1.1% of Vivaldi Capital Management LP's portfolio, making the stock its 29th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in shares of Pentair by 55.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 809 shares of the industrial products company's stock valued at $81,000 after acquiring an additional 287 shares during the period. Stratos Wealth Partners LTD. bought a new position in shares of Pentair during the 4th quarter valued at $289,000. Norges Bank bought a new position in shares of Pentair during the 4th quarter valued at $36,568,000. Q3 Asset Management bought a new position in Pentair in the 4th quarter worth $320,000. Finally, Atria Wealth Solutions Inc. raised its holdings 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 acquiring an additional 1,986 shares during the period. Institutional investors and hedge funds own 92.37% of the company's stock.

Pentair Stock Down 0.9%

NYSE PNR traded down $0.86 on Friday, reaching $96.79. The company had a trading volume of 1,252,440 shares, compared to its average volume of 1,512,461. The firm has a market capitalization of $15.92 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. Pentair plc has a 1-year low of $72.63 and a 1-year high of $110.71. The company's fifty day moving average is $88.81 and its 200-day moving average is $96.41.

Pentair (NYSE:PNR - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.10. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $988.38 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. During the same period in the prior year, the business earned $0.94 EPS. On average, research analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a dividend of $0.25 per share. 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 1.03%. Pentair's dividend payout ratio is 25.84%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PNR. Robert W. Baird cut their price target on shares of Pentair from $114.00 to $107.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Northcoast Research upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Royal Bank of Canada raised their price target on shares of Pentair from $99.00 to $101.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. The Goldman Sachs Group set a $95.00 price target on shares of Pentair and gave the stock a "neutral" rating in a research note on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Pentair from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $107.14.

Insider Transactions at Pentair

In other news, Director David A. /Wi Jones sold 6,558 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the completion of the transaction, the director now directly owns 26,313 shares in the company, valued at $2,366,591.22. This represents a 19.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.