Pentair plc (NYSE:PNR) Holdings Raised by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in Pentair plc (NYSE:PNR) by 4.3% during the fourth quarter, HoldingsChannel reports. The firm owned 20,154 shares of the industrial products company’s stock after acquiring an additional 825 shares during the period. CIBC Asset Management Inc’s holdings in Pentair were worth $2,028,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quarry LP increased its position in shares of Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 134 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 294 shares during the period. Eastern Bank grew its position in Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 300 shares in the last quarter. Blue Trust Inc. raised its stake in 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 purchasing an additional 327 shares during the period. Finally, Friedenthal Financial purchased a new stake in shares of Pentair in the fourth quarter valued at $56,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PNR shares. KeyCorp reissued a “sector weight” rating and set a $115.00 price target on shares of Pentair in a research report on Monday, January 6th. Robert W. Baird increased their price target on shares of Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Citigroup lowered their price objective on shares of Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Oppenheimer increased their target price on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Northcoast Research upgraded shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

Pentair Stock Down 2.5 %

Shares of Pentair stock opened at $92.89 on Friday. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $100.54 and a two-hundred day moving average price of $97.99. The stock has a market capitalization of $15.35 billion, a P/E ratio of 24.84, a PEG ratio of 1.88 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. Pentair’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.87 EPS. Equities analysts expect that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, January 24th. This is a boost from Pentair’s previous quarterly dividend of $0.23. Pentair’s payout ratio is currently 26.74%.

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.