11,200 Shares of Pentair plc $PNR Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Pentair plc (NYSE:PNR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,200 shares of the industrial products company’s stock, valued at approximately $593,000.

A number of other hedge funds also recently modified their holdings of PNR. Livelsberger Financial Advisory bought a new position in Pentair in the third quarter valued at approximately $40,000. Childress Capital Advisors LLC bought a new stake in shares of Pentair during the third quarter worth $209,000. D.A. Davidson & CO. bought a new stake in shares of Pentair during the third quarter worth $913,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Pentair during the third quarter worth $65,000. Finally, North Dakota State Investment Board acquired a new stake in shares of Pentair during the third quarter worth $259,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PNR. Stifel Nicolaus lowered shares of Pentair from a “buy” rating to a “hold” rating and reduced their target price for the stock from $103.00 to $65.00 in a research note on Thursday, July 16th. TD Cowen raised Pentair from a “sell” rating to a “hold” rating and dropped their price target for the company from $65.00 to $55.00 in a research note on Wednesday, October 14th. Seaport Research Partners lowered Pentair from a “buy” rating to a “neutral” rating in a report on Wednesday, July 15th. UBS Group set a $65.00 price objective on Pentair in a research report on Wednesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $81.00 price objective on shares of Pentair in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.59.

Pentair Stock Down 2.4%

PNR traded down $1.66 during trading hours on Friday, hitting $68.11. 1,961,987 shares of the company’s stock were exchanged, compared to its average volume of 3,647,852. Pentair plc has a 1-year low of $51.13 and a 1-year high of $109.89. The stock’s 50-day moving average is $57.45 and its two-hundred day moving average is $75.57. The stock has a market cap of $10.87 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.66 and a beta of 1.01. The company has a quick ratio of 0.77, a current ratio of 1.47 and a debt-to-equity ratio of 0.38.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 27th. The industrial products company reported $1.18 earnings per share 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 business had revenue of $976.40 million during the quarter, compared to the consensus estimate of $963.71 million. During the same quarter last year, the firm earned $1.24 earnings per share. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. Sell-side analysts predict that Pentair plc will post 4.70 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 6th. Stockholders of record on Friday, October 23rd were issued a $0.27 dividend. The ex-dividend date was Friday, October 23rd. This represents a $1.08 annualized dividend and a dividend yield of 1.6%. Pentair’s dividend payout ratio (DPR) is presently 28.65%.

About Pentair

Pentair plc (NYSE: PNR) is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.