Lbp Am Sa Acquires New Stake in Pentair plc (NYSE:PNR)

Lbp Am Sa bought a new stake in Pentair plc (NYSE:PNR) in the 4th quarter, Holdings Channel reports. The institutional investor bought 74,464 shares of the industrial products company’s stock, valued at approximately $7,494,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position 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 valued at $856,257,000 after buying an additional 259,922 shares during the last quarter. FMR LLC grew its stake in Pentair by 4.7% in the 3rd 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. Geode Capital Management LLC lifted its stake in shares of Pentair by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after purchasing an additional 19,853 shares during the period. Swedbank AB boosted its holdings in shares of Pentair by 17.9% during the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after purchasing an additional 205,000 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Pentair by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company’s stock valued at $101,653,000 after purchasing an additional 7,434 shares during the period. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on PNR. Barclays increased their target price on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. 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. KeyCorp restated a “sector weight” rating and issued a $115.00 target price on shares of Pentair in a report on Monday, January 6th. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Wolfe Research began coverage on shares of Pentair in a research note on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Pentair has a consensus rating of “Moderate Buy” and an average target price of $112.93.

Pentair Trading Up 2.6 %

Shares of PNR opened at $86.18 on Friday. The stock’s 50-day moving average is $97.10 and its two-hundred day moving average is $98.54. The stock has a market cap of $14.20 billion, a PE ratio of 23.04, a P/E/G ratio of 1.87 and a beta of 1.23. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.02 by $0.06. The business had revenue of $972.90 million for the quarter, compared to the consensus estimate of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. Equities analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

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 $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Pentair’s dividend payout ratio (DPR) is presently 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.