NEOS Investment Management LLC Has $611,000 Position in Pentair plc (NYSE:PNR)

NEOS Investment Management LLC grew its stake in Pentair plc (NYSE:PNR) by 25.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,074 shares of the industrial products company’s stock after purchasing an additional 1,238 shares during the quarter. NEOS Investment Management LLC’s holdings in Pentair were worth $611,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas grew its stake in Pentair by 219.0% in the 4th quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company’s stock valued at $60,863,000 after buying an additional 415,163 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Pentair by 862.2% during the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock worth $43,212,000 after acquiring an additional 395,962 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Pentair by 67.4% during the fourth quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock worth $89,390,000 after purchasing an additional 357,523 shares during the period. World Investment Advisors LLC acquired a new stake in Pentair during the 3rd quarter worth approximately $26,748,000. Finally, National Pension Service lifted its holdings in Pentair by 726.4% during the 4th 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 last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analyst Ratings Changes

PNR has been the topic of several recent research reports. KeyCorp reiterated a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research report on Monday, January 6th. Barclays dropped their price objective on shares of Pentair from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Stifel Nicolaus decreased their target price on shares of Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Robert W. Baird upgraded shares of Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price target for the company in a research report on Tuesday, March 25th. Finally, Baird R W raised Pentair from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 25th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $112.27.

Pentair Trading Down 2.9 %

PNR opened at $86.76 on Monday. The company has a market cap of $14.30 billion, a P/E ratio of 23.20, a PEG ratio of 1.87 and a beta of 1.23. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $94.54 and its 200-day moving average is $98.84. Pentair plc has a 1-year low of $72.63 and a 1-year high of $110.71.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share 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 analyst estimates of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share. Equities research analysts predict that Pentair plc will post 4.77 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 2nd. Shareholders of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. Pentair’s payout ratio is presently 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.