Nordea Investment Management AB Buys 46,290 Shares of Pentair plc (NYSE:PNR)

Nordea Investment Management AB lifted its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 191.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 70,424 shares of the industrial products company's stock after buying an additional 46,290 shares during the quarter. Nordea Investment Management AB's holdings in Pentair were worth $5,122,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Pentair by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company's stock worth $1,287,364,000 after buying an additional 204,416 shares during the last quarter. BlackRock Inc. raised its position in shares of Pentair by 2.8% in the second quarter. BlackRock Inc. now owns 16,446,044 shares of the industrial products company's stock valued at $1,062,414,000 after buying an additional 446,327 shares in the last quarter. State Street Corp boosted its stake in shares of Pentair by 4.4% in the third quarter. State Street Corp now owns 10,611,971 shares of the industrial products company's stock valued at $431,164,000 after buying an additional 443,034 shares during the period. Invesco Ltd. boosted its stake in shares of Pentair by 8.2% in the first quarter. Invesco Ltd. now owns 6,346,517 shares of the industrial products company's stock valued at $344,045,000 after buying an additional 479,701 shares during the period. Finally, Geode Capital Management LLC grew its position in Pentair by 2.1% during the second quarter. Geode Capital Management LLC now owns 3,596,912 shares of the industrial products company's stock worth $231,769,000 after buying an additional 74,247 shares in the last quarter. Institutional investors and hedge funds own 88.60% of the company's stock.

Pentair Trading Down 0.9 %

Pentair stock traded down $0.78 during trading hours on Friday, reaching $83.94. 1,602,026 shares of the company's stock were exchanged, compared to its average volume of 1,766,704. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.62. The firm's 50 day simple moving average is $76.07 and its 200 day simple moving average is $69.25. Pentair plc has a twelve month low of $50.15 and a twelve month high of $85.01. The firm has a market capitalization of $13.88 billion, a PE ratio of 22.38, a PEG ratio of 1.61 and a beta of 1.20.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.01. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The firm had revenue of $984.60 million during the quarter, compared to the consensus estimate of $975.36 million. During the same period last year, the business posted $0.82 EPS. The business's revenue was down 1.8% compared to the same quarter last year. Research analysts predict that Pentair plc will post 4.22 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be paid a $0.23 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.10%. Pentair's dividend payout ratio is presently 24.53%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PNR. KeyCorp increased their price target on Pentair from $82.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, March 7th. The Goldman Sachs Group reissued a "neutral" rating and set a $91.00 price target on shares of Pentair in a research report on Friday. Barclays increased their price target on Pentair from $83.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, March 7th. Oppenheimer reaffirmed an "outperform" rating and issued a $88.00 target price (up previously from $82.00) on shares of Pentair in a report on Thursday, March 7th. Finally, Royal Bank of Canada raised their target price on Pentair from $78.00 to $87.00 and gave the company an "outperform" rating in a report on Monday, March 4th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $84.36.

Pentair Company 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.