EverSource Wealth Advisors LLC Boosts Stake in Pentair plc (NYSE:PNR)

EverSource Wealth Advisors LLC lifted its holdings in shares of Pentair plc (NYSE:PNR) by 27.7% in the second quarter, HoldingsChannel.com reports. The firm owned 1,336 shares of the industrial products company’s stock after acquiring an additional 290 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Pentair were worth $102,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in Pentair by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after buying an additional 53,787 shares during the period. Kodai Capital Management LP purchased a new position in shares of Pentair during the 4th quarter worth approximately $173,280,000. Massachusetts Financial Services Co. MA increased its holdings in Pentair by 91.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after purchasing an additional 996,325 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Pentair by 6.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock valued at $125,704,000 after purchasing an additional 105,724 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in Pentair by 352.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after purchasing an additional 1,228,635 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Stock Up 1.1 %

Shares of NYSE PNR opened at $97.53 on Friday. The stock has a market cap of $16.14 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20. Pentair plc has a 52-week low of $57.18 and a 52-week high of $98.23. The business has a 50-day moving average price of $87.25 and a 200 day moving average price of $82.80. 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 earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the firm posted $1.03 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts forecast that Pentair plc will post 4.25 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a $0.23 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.94%. Pentair’s payout ratio is 24.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PNR shares. The Goldman Sachs Group lifted their price objective on Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Oppenheimer boosted their price target on shares of Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price objective on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays upped their target price on shares of Pentair from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus raised their price target on shares of Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.87.

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.