Norges Bank Makes New Investment in Pentair plc $PNR

Norges Bank acquired a new position in shares of Pentair plc (NYSE:PNR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 353,355 shares of the industrial products company’s stock, valued at approximately $36,798,000. Norges Bank owned about 0.22% of Pentair as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Avanza Fonder AB grew its position in shares of Pentair by 142.1% during the fourth quarter. Avanza Fonder AB now owns 38,940 shares of the industrial products company’s stock worth $4,055,000 after acquiring an additional 22,858 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Pentair by 13.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,638,855 shares of the industrial products company’s stock worth $274,810,000 after acquiring an additional 305,166 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Pentair by 22.8% during the fourth quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock worth $366,787,000 after acquiring an additional 647,162 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Pentair by 624.2% during the fourth quarter. SG Americas Securities LLC now owns 362,648 shares of the industrial products company’s stock worth $37,766,000 after acquiring an additional 312,574 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Pentair by 93.6% during the third quarter. Envestnet Asset Management Inc. now owns 397,471 shares of the industrial products company’s stock worth $44,024,000 after acquiring an additional 192,125 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Seaport Research Partners lowered their price target on Pentair from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Stifel Nicolaus lowered their price target on Pentair from $110.00 to $103.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings lowered Pentair from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Bank of America lowered their price target on Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. Finally, Wall Street Zen lowered Pentair from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $107.86.

Pentair Price Performance

Shares of PNR opened at $72.80 on Tuesday. Pentair plc has a twelve month low of $69.93 and a twelve month high of $113.95. The stock’s 50 day moving average is $80.98 and its two-hundred day moving average is $93.89. The firm has a market capitalization of $11.77 billion, a PE ratio of 17.84, a P/E/G ratio of 1.24 and a beta of 1.05. The company has a current ratio of 1.88, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the company earned $1.11 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts anticipate that Pentair plc will post 5.35 earnings per share for the current year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, July 24th. Pentair’s payout ratio is presently 26.47%.

Pentair Company Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.