Pentair plc (NYSE:PNR) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers grew its position in Pentair plc (NYSE:PNR) by 8.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,855 shares of the industrial products company’s stock after acquiring an additional 4,202 shares during the quarter. Cetera Investment Advisers’ holdings in Pentair were worth $4,206,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Pentair in the fourth quarter valued at approximately $2,908,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Pentair by 5.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock worth $15,820,000 after purchasing an additional 8,966 shares during the period. Point72 Europe London LLP acquired a new stake in shares of Pentair during the fourth quarter worth $921,000. Quadrature Capital Ltd acquired a new stake in shares of Pentair during the fourth quarter worth $834,000. Finally, Norden Group LLC acquired a new stake in shares of Pentair during the first quarter worth $1,103,000. 92.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PNR shares. Oppenheimer increased their price target on Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price target on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. The Goldman Sachs Group increased their price target on Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada increased their price target on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Stifel Nicolaus increased their price target on Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.47.

Pentair Trading Up 0.6 %

Shares of PNR stock opened at $96.99 on Thursday. Pentair plc has a fifty-two week low of $57.18 and a fifty-two week high of $98.23. The stock has a market cap of $16.10 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.71 and a beta of 1.20. The business has a fifty day simple moving average of $89.23 and a 200-day simple moving average of $83.71. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts forecast that Pentair plc will post 4.26 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s dividend payout ratio is presently 24.47%.

About Pentair

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.