Pentair plc $PNR Shares Newly Purchased by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund acquired a new position in Pentair plc (NYSE:PNR) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 19,664 shares of the industrial products company’s stock, valued at approximately $1,042,000.

Several other institutional investors have also added to or reduced their stakes in PNR. ARGA Investment Management LP acquired a new position in shares of Pentair in the 3rd quarter worth approximately $1,502,000. Next Level Wealth Planning LLC bought a new stake in shares of Pentair in the 3rd quarter valued at $37,000. Greenleaf Trust acquired a new stake in shares of Pentair during the third quarter worth $219,000. State of Wyoming acquired a new stake in shares of Pentair during the third quarter worth $368,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Pentair during the third quarter worth $593,000. 92.37% of the stock is currently owned by institutional investors.

Pentair Stock Performance

Shares of PNR stock opened at $70.10 on Tuesday. The company has a market cap of $11.19 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. Pentair plc has a 52 week low of $51.13 and a 52 week high of $109.89. The company has a quick ratio of 0.77, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $57.62 and a 200-day moving average of $75.38.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 27th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. Pentair had a net margin of 15.44% and a return on equity of 20.10%. The company had revenue of $976.40 million for the quarter, compared to the consensus estimate of $963.71 million. During the same quarter in the previous year, the company earned $1.24 EPS. Pentair’s quarterly revenue was down 4.5% compared to the same quarter last year. On average, equities analysts forecast that Pentair plc will post 4.70 earnings per share for the current year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 6th. Investors of record on Friday, October 23rd were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, October 23rd. Pentair’s dividend payout ratio is 28.65%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PNR shares. BNP Paribas Exane upgraded shares of Pentair from an “underperform” rating to a “neutral” rating and set a $65.00 target price on the stock in a report on Wednesday, October 28th. Mizuho cut their price target on shares of Pentair from $85.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Stifel Nicolaus downgraded Pentair from a “buy” rating to a “hold” rating and decreased their price target for the stock from $103.00 to $65.00 in a report on Thursday, July 16th. Royal Bank Of Canada lifted their price objective on Pentair from $61.00 to $69.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $81.00 price objective on shares of Pentair in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Pentair has an average rating of “Hold” and an average target price of $76.59.

Pentair Company Profile

Pentair plc is a water solutions company that develops and supplies products and services for managing, treating and moving water. Its offerings include water filtration and treatment systems, pumps, valves and related equipment for residential, commercial, industrial and agricultural customers.

The company also serves the pool and spa market, providing equipment and systems such as pumps, filters, heaters and water-care products. Pentair serves customers in markets around the world.

Founded in 1966, Pentair has evolved from its origins as a diversified manufacturer into a company focused on water-related businesses.