Louisiana State Employees Retirement System Buys New Shares in Pentair plc $PNR

Louisiana State Employees Retirement System purchased a new stake in shares of Pentair plc (NYSE:PNR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,300 shares of the industrial products company’s stock, valued at approximately $723,000.

Several other institutional investors have also recently made changes to their positions in the stock. Kestra Private Wealth Services LLC purchased a new stake in Pentair in the 1st quarter worth approximately $515,000. SVB Wealth LLC purchased a new position in Pentair during the first quarter valued at approximately $213,000. Rockefeller Capital Management L.P. increased its stake in shares of Pentair by 8.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 8,240 shares of the industrial products company’s stock worth $858,000 after purchasing an additional 661 shares in the last quarter. World Investment Advisors raised its position in shares of Pentair by 26.6% during the 4th quarter. World Investment Advisors now owns 2,890 shares of the industrial products company’s stock valued at $301,000 after purchasing an additional 608 shares during the period. Finally, Compound Planning Inc. lifted its stake in shares of Pentair by 7.2% during the 4th quarter. Compound Planning Inc. now owns 6,378 shares of the industrial products company’s stock valued at $664,000 after buying an additional 427 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PNR. Robert W. Baird set a $110.00 price target on Pentair in a research note on Wednesday, April 29th. TD Cowen reduced their price target on shares of Pentair from $90.00 to $75.00 and set a “sell” rating on the stock in a research report on Wednesday, April 29th. Barclays lowered their price objective on shares of Pentair from $95.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. Weiss Ratings downgraded shares of Pentair from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Bank of America decreased their target price on shares of Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $107.86.

Pentair Trading Down 0.5%

NYSE:PNR traded down $0.36 during midday trading on Tuesday, hitting $75.17. 52,381 shares of the company traded hands, compared to its average volume of 1,940,764. The firm has a market capitalization of $12.15 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.30 and a beta of 1.03. The firm’s fifty day moving average is $75.53 and its 200-day moving average is $89.68. Pentair plc has a 12-month low of $69.93 and a 12-month high of $113.95. The company has a current ratio of 1.88, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.17 by $0.05. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm earned $1.11 earnings per share. Pentair’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts predict that Pentair plc will post 5.35 EPS for the current year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, July 24th. Pentair’s dividend payout ratio is 26.47%.

Pentair Company Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.