SRN Advisors LLC Takes $793,000 Position in Pentair plc (NYSE:PNR)

SRN Advisors LLC acquired a new position in shares of Pentair plc (NYSE:PNR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,876 shares of the industrial products company’s stock, valued at approximately $793,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Impact Investors Inc acquired a new stake in shares of Pentair in the fourth quarter valued at approximately $1,088,000. National Pension Service boosted its position in Pentair by 726.4% during the fourth quarter. National Pension Service now owns 296,554 shares of the industrial products company’s stock worth $29,845,000 after purchasing an additional 260,668 shares during the period. Bank of New York Mellon Corp boosted its position in Pentair by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company’s stock worth $101,653,000 after purchasing an additional 7,434 shares during the period. World Equity Group Inc. increased its holdings in shares of Pentair by 100.1% in the fourth quarter. World Equity Group Inc. now owns 6,950 shares of the industrial products company’s stock valued at $699,000 after purchasing an additional 3,476 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Pentair by 24.5% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,030 shares of the industrial products company’s stock valued at $3,525,000 after purchasing an additional 6,900 shares during the period. 92.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PNR. Barclays upped their price target on shares of Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. KeyCorp reiterated a “sector weight” rating and set a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Wolfe Research initiated coverage on Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. Oppenheimer lifted their target price on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Pentair in a research note on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Pentair presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.25.

Pentair Trading Down 0.1 %

Shares of PNR stock opened at $93.22 on Thursday. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The stock’s fifty day moving average price is $99.84 and its two-hundred day moving average price is $98.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The company has a market cap of $15.40 billion, a PE ratio of 24.93, a P/E/G ratio of 1.87 and a beta of 1.20.

Pentair (NYSE:PNR) last released 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 firm had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 earnings per share. Equities analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair’s payout ratio is 26.74%.

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.