PFG Investments LLC Raises Holdings in Pentair plc (NYSE:PNR)

PFG Investments LLC boosted its stake in Pentair plc (NYSE:PNR) by 6.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,813 shares of the industrial products company’s stock after buying an additional 244 shares during the quarter. PFG Investments LLC’s holdings in Pentair were worth $384,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Quarry LP boosted its stake in shares of Pentair by 105.5% during the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 134 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Pentair by 753.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 294 shares during the last quarter. Eastern Bank grew its holdings in shares of Pentair by 144.9% during the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after buying an additional 300 shares in the last quarter. Blue Trust Inc. raised its position in shares of Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after buying an additional 327 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in shares of Pentair during the fourth quarter valued at approximately $56,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Mizuho boosted their price target on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Oppenheimer increased their target price on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Wolfe Research started coverage on Pentair in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. Finally, KeyCorp restated a “sector weight” rating and issued a $115.00 target price on shares of Pentair in a report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.07.

Pentair Price Performance

PNR stock opened at $103.51 on Friday. The firm has a market cap of $17.10 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 1.67 and a beta of 1.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. Pentair plc has a 1 year low of $72.03 and a 1 year high of $110.71. The stock has a 50-day simple moving average of $103.90 and a 200-day simple moving average of $96.44.

Pentair Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be given a dividend of $0.25 per share. This is a boost from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, January 24th. Pentair’s payout ratio is presently 25.00%.

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.