Pentair plc (NYSE:PNR) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Pentair plc (NYSE:PNR - Free Report) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 478,628 shares of the industrial products company's stock after purchasing an additional 57,010 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.29% of Pentair worth $34,801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PNR. Assetmark Inc. increased its stake in shares of Pentair by 935.1% in the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 346 shares in the last quarter. IFP Advisors Inc boosted its holdings in Pentair by 97.6% in the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company's stock worth $26,000 after buying an additional 202 shares during the last quarter. Quent Capital LLC boosted its holdings in Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company's stock worth $29,000 after buying an additional 213 shares during the last quarter. Baystate Wealth Management LLC acquired a new stake in Pentair in the 3rd quarter worth about $30,000. Finally, Operose Advisors LLC acquired a new stake in Pentair in the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 92.37% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PNR. UBS Group lifted their price objective on Pentair from $72.00 to $83.00 and gave the stock a "buy" rating in a report on Wednesday, January 10th. Mizuho lifted their price objective on Pentair from $82.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, March 7th. Royal Bank of Canada boosted their target price on Pentair from $78.00 to $87.00 and gave the stock an "outperform" rating in a report on Monday, March 4th. The Goldman Sachs Group restated a "neutral" rating and set a $91.00 target price on shares of Pentair in a report on Friday, March 22nd. Finally, Stifel Nicolaus boosted their target price on Pentair from $88.00 to $94.00 and gave the stock a "buy" rating in a report on Thursday, March 7th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.33.

Pentair Trading Down 1.1 %

Shares of PNR stock traded down $0.90 during trading on Wednesday, hitting $79.15. 920,786 shares of the stock traded hands, compared to its average volume of 1,614,601. The firm has a market capitalization of $13.14 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.65 and a quick ratio of 0.94. The firm's fifty day moving average price is $79.86 and its 200-day moving average price is $71.30. Pentair plc has a 52-week low of $51.38 and a 52-week high of $85.81.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.86 by $0.01. The firm had revenue of $984.60 million for the quarter, compared to analyst estimates of $975.36 million. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 EPS. As a group, research analysts forecast that Pentair plc will post 4.21 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Thursday, April 18th. Pentair's payout ratio is 24.53%.

About Pentair

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.