Intact Investment Management Inc. Buys Shares of 600 Pentair plc (NYSE:PNR)

Intact Investment Management Inc. bought a new stake in Pentair plc (NYSE:PNR) in the fourth quarter, HoldingsChannel reports. The fund bought 600 shares of the industrial products company’s stock, valued at approximately $60,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbour Investments Inc. boosted its position in shares of Pentair by 10.7% during the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock worth $644,000 after buying an additional 636 shares during the period. Moody National Bank Trust Division acquired a new position in shares of Pentair during the fourth quarter worth about $989,000. Algert Global LLC acquired a new position in shares of Pentair during the third quarter worth about $479,000. FMR LLC boosted its position in shares of Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after buying an additional 258,134 shares during the period. Finally, Pathstone Holdings LLC boosted its position in shares of Pentair by 47.4% during the third quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock worth $1,944,000 after buying an additional 6,391 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PNR. KeyCorp reaffirmed a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research report on Monday, January 6th. Citigroup dropped their target price on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, January 13th. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Barclays upped their target price on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Pentair in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.93.

Pentair Price Performance

NYSE:PNR opened at $86.18 on Friday. The firm has a market capitalization of $14.20 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 1.87 and a beta of 1.23. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The stock’s 50 day moving average price is $96.80 and its two-hundred day moving average price is $98.63.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The company had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 earnings per share. On average, analysts anticipate that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The company 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 dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. Pentair’s dividend payout ratio (DPR) is currently 26.74%.

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.