SRN Advisors LLC Takes Position in Pentair plc (NYSE:PNR)

SRN Advisors LLC bought a new position in Pentair plc (NYSE:PNR) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 7,876 shares of the industrial products company’s stock, valued at approximately $793,000.

Other institutional investors also recently modified their holdings of the company. Harbour Investments Inc. boosted its holdings in Pentair by 10.7% in the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock worth $644,000 after acquiring an additional 636 shares in the last quarter. Moody National Bank Trust Division acquired a new position in shares of Pentair during the fourth quarter worth approximately $989,000. Algert Global LLC acquired a new stake in Pentair in the 3rd quarter valued at $479,000. FMR LLC grew its position in Pentair by 4.7% in the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after purchasing an additional 258,134 shares during the period. Finally, Pathstone Holdings LLC increased its stake in Pentair by 47.4% during the 3rd quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock valued at $1,944,000 after purchasing an additional 6,391 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Price Performance

Pentair stock opened at $93.22 on Thursday. The business’s 50 day simple moving average is $99.84 and its 200 day simple moving average is $98.30. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The company has a market cap of $15.40 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 1.87 and a beta of 1.20. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The firm had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 EPS. Sell-side analysts forecast that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. Pentair’s payout ratio is 26.74%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PNR. KeyCorp reiterated a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a report on Monday, January 6th. Robert W. Baird lifted their target price on Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Citigroup lowered their target price on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Wolfe Research initiated coverage on shares of Pentair in a report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $111.25.

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.