Allianz Asset Management GmbH Grows Stock Holdings in Pentair plc (NYSE:PNR)

Allianz Asset Management GmbH raised its stake in Pentair plc (NYSE:PNR) by 67.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 888,212 shares of the industrial products company’s stock after buying an additional 357,523 shares during the period. Allianz Asset Management GmbH’s holdings in Pentair were worth $89,390,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PNR. State Street Corp increased its stake in Pentair by 3.1% in the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock valued at $856,257,000 after purchasing an additional 259,922 shares in the last quarter. FMR LLC grew its holdings in Pentair by 4.7% in the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after purchasing an additional 258,134 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Pentair by 0.5% in the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock valued at $389,800,000 after buying an additional 19,853 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Pentair by 11.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,489,715 shares of the industrial products company’s stock worth $143,823,000 after buying an additional 158,433 shares during the last quarter. Finally, Swedbank AB boosted its position in shares of Pentair by 17.9% in the 3rd quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after buying an additional 205,000 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Down 2.5 %

PNR 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 business has a 50-day moving average of $100.54 and a two-hundred day moving average of $97.99. 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 stock has a market capitalization of $15.35 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.88 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. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The firm had revenue of $972.90 million during the quarter, compared to the consensus estimate of $970.95 million. During the same period in the previous year, the firm earned $0.87 earnings per share. Pentair’s revenue was down 1.2% compared to the same quarter last year. On average, research analysts expect that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, January 24th. Pentair’s dividend payout ratio is presently 26.74%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PNR shares. Robert W. Baird raised their target price on shares of Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Citigroup dropped their price objective on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wolfe Research assumed coverage on Pentair in a research report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective for the company. Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Barclays boosted their price target on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Pentair presently has an average rating of “Moderate Buy” and an average target price of $111.25.

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.