Donoghue Forlines LLC Makes New Investment in Pentair plc (NYSE:PNR)

Donoghue Forlines LLC purchased a new stake in Pentair plc (NYSE:PNR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 19,564 shares of the industrial products company’s stock, valued at approximately $1,969,000.

A number of other hedge funds also recently made changes to their positions in the stock. Quarry LP lifted its stake in Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 134 shares during the last quarter. Eastern Bank increased its holdings in shares of Pentair by 144.9% during the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after buying an additional 300 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 327 shares in the last quarter. Friedenthal Financial bought a new stake in Pentair during the 4th quarter worth $56,000. Finally, True Wealth Design LLC increased its holdings in Pentair by 4,450.0% in the 3rd quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 623 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNR has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price target on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Mizuho upped their price target on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. KeyCorp reissued a “sector weight” rating and issued a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Pentair in a report on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.13.

Pentair Trading Down 0.3 %

NYSE PNR opened at $104.38 on Thursday. Pentair plc has a one year low of $70.59 and a one year high of $110.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The business has a 50 day simple moving average of $104.21 and a 200 day simple moving average of $95.48. The stock has a market capitalization of $17.25 billion, a P/E ratio of 26.12, a P/E/G ratio of 1.68 and a beta of 1.21.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same quarter last year, the firm posted $0.94 EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Research analysts expect that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.96%. This is a boost from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, January 24th. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Insider Buying and Selling at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

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.