Raymond James Financial Inc. Purchases Shares of 148,932 Pentair plc (NYSE:PNR)

Raymond James Financial Inc. purchased a new stake in shares of Pentair plc (NYSE:PNR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 148,932 shares of the industrial products company's stock, valued at approximately $14,989,000. Raymond James Financial Inc. owned about 0.09% of Pentair as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PNR. Independent Advisor Alliance grew its holdings in Pentair by 1.4% during the fourth quarter. Independent Advisor Alliance now owns 7,628 shares of the industrial products company's stock worth $768,000 after buying an additional 103 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Pentair by 11.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,194 shares of the industrial products company's stock worth $120,000 after acquiring an additional 118 shares during the last quarter. Richardson Financial Services Inc. grew its stake in shares of Pentair by 16.1% in the 4th quarter. Richardson Financial Services Inc. now owns 916 shares of the industrial products company's stock worth $92,000 after acquiring an additional 127 shares in the last quarter. Annex Advisory Services LLC raised its holdings in shares of Pentair by 2.9% in the fourth quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company's stock valued at $540,000 after purchasing an additional 151 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in shares of Pentair by 1.3% during the fourth quarter. Sanctuary Advisors LLC now owns 12,094 shares of the industrial products company's stock valued at $1,251,000 after purchasing an additional 161 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PNR. Mizuho set a $100.00 price objective on shares of Pentair in a research report on Tuesday. StockNews.com lowered Pentair from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. The Goldman Sachs Group set a $95.00 price target on Pentair and gave the stock a "neutral" rating in a report on Tuesday. Robert W. Baird reduced their price objective on Pentair from $114.00 to $107.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus lowered their target price on Pentair from $125.00 to $102.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $106.93.

Pentair Stock Performance

Shares of PNR traded down $0.17 during trading hours on Friday, hitting $90.01. The company's stock had a trading volume of 884,476 shares, compared to its average volume of 1,502,803. The company has a market cap of $14.85 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 1.87 and a beta of 1.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The business has a 50 day simple moving average of $86.77 and a two-hundred day simple moving average of $96.90. 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 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 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 previous year, the business earned $0.94 EPS. On average, equities analysts expect that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Thursday, April 17th. Pentair's payout ratio is presently 25.84%.

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.