Pentair plc $PNR Shares Purchased by Panagora Asset Management Inc.

Panagora Asset Management Inc. increased its position in Pentair plc (NYSE:PNR) by 26.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,550,935 shares of the industrial products company’s stock after buying an additional 321,341 shares during the period. Pentair comprises approximately 0.6% of Panagora Asset Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Panagora Asset Management Inc.’s holdings in Pentair were worth $161,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Avanza Fonder AB boosted its holdings in shares of Pentair by 142.1% in the 4th quarter. Avanza Fonder AB now owns 38,940 shares of the industrial products company’s stock valued at $4,055,000 after acquiring an additional 22,858 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Pentair by 13.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,638,855 shares of the industrial products company’s stock valued at $274,810,000 after purchasing an additional 305,166 shares during the period. Nordea Investment Management AB lifted its position in Pentair by 22.8% during the fourth quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock valued at $366,787,000 after purchasing an additional 647,162 shares during the period. SG Americas Securities LLC boosted its holdings in Pentair by 624.2% in the fourth quarter. SG Americas Securities LLC now owns 362,648 shares of the industrial products company’s stock valued at $37,766,000 after purchasing an additional 312,574 shares during the last quarter. Finally, Clean Energy Transition LLP boosted its holdings in Pentair by 26.7% in the third quarter. Clean Energy Transition LLP now owns 313,005 shares of the industrial products company’s stock valued at $34,668,000 after purchasing an additional 66,036 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays reduced their price objective on Pentair from $95.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Robert W. Baird set a $110.00 target price on Pentair in a research note on Wednesday, April 29th. TD Cowen reduced their price target on Pentair from $90.00 to $75.00 and set a “sell” rating for the company in a research report on Wednesday, April 29th. Royal Bank Of Canada decreased their price target on Pentair from $107.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Finally, Citigroup lowered their price objective on Pentair from $112.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $107.86.

Pentair Trading Down 0.2%

PNR stock opened at $73.68 on Monday. Pentair plc has a 52-week low of $69.93 and a 52-week high of $113.95. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51. The firm has a market cap of $11.91 billion, a P/E ratio of 18.06, a PEG ratio of 1.25 and a beta of 1.05. The company’s 50-day simple moving average is $79.98 and its 200-day simple moving average is $93.04.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.05. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.Pentair’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.11 EPS. As a group, equities analysts forecast that Pentair plc will post 5.35 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be given a $0.27 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.5%. Pentair’s 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.