Pentair plc (NYSE:PNR) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Pentair plc (NYSE:PNR) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,010,068 shares of the industrial products company’s stock after acquiring an additional 7,434 shares during the period. Bank of New York Mellon Corp’s holdings in Pentair were worth $101,653,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. National Bank of Canada FI lifted its position in Pentair by 862.2% during the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock valued at $43,212,000 after purchasing an additional 395,962 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Pentair by 67.4% during the 4th quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock valued at $89,390,000 after buying an additional 357,523 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Pentair in the 3rd quarter valued at about $26,748,000. State Street Corp boosted its stake in shares of Pentair by 3.1% in the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after buying an additional 259,922 shares during the last quarter. Finally, FMR LLC grew its holdings in 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 acquiring an additional 258,134 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Stock Up 1.4 %

Shares of PNR opened at $94.29 on Friday. The stock has a 50 day moving average price of $99.52 and a 200 day moving average price of $98.44. Pentair plc has a one year low of $72.63 and a one year high of $110.71. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The stock has a market capitalization of $15.54 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.87 and a beta of 1.20.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The company’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 earnings per share. Equities research analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio is currently 26.74%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PNR shares. Robert W. Baird boosted their price target on Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Wolfe Research began 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. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research report on Thursday. Oppenheimer upped their price objective on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Citigroup dropped their target price on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.