Harvest Fund Management Co. Ltd Acquires 6,608 Shares of Pentair plc (NYSE:PNR)

Harvest Fund Management Co. Ltd increased its holdings in shares of Pentair plc (NYSE:PNR) by 201.3% in the 4th quarter, HoldingsChannel reports. The firm owned 9,891 shares of the industrial products company’s stock after acquiring an additional 6,608 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Pentair were worth $995,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PNR. Xponance Inc. grew its position in shares of Pentair by 6.3% during the 4th quarter. Xponance Inc. now owns 23,873 shares of the industrial products company’s stock worth $2,403,000 after buying an additional 1,420 shares during the period. Generali Asset Management SPA SGR acquired a new stake in Pentair in the fourth quarter worth $2,809,000. Advisors Asset Management Inc. increased its stake in Pentair by 45.0% in the fourth quarter. Advisors Asset Management Inc. now owns 36,251 shares of the industrial products company’s stock valued at $3,648,000 after purchasing an additional 11,249 shares in the last quarter. Cibc World Markets Corp raised its holdings in shares of Pentair by 15.7% during the fourth quarter. Cibc World Markets Corp now owns 26,072 shares of the industrial products company’s stock valued at $2,624,000 after purchasing an additional 3,537 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of Pentair by 8.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 5,746 shares of the industrial products company’s stock worth $578,000 after purchasing an additional 425 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

Pentair Stock Up 2.1 %

Pentair stock opened at $89.19 on Thursday. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week 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 firm’s 50-day simple moving average is $96.13 and its 200 day simple moving average is $98.65. The stock has a market cap of $14.70 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23.

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, beating the consensus estimate of $1.02 by $0.06. The company had revenue of $972.90 million during 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%. Pentair’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. Research analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio (DPR) is currently 26.74%.

Analyst Ratings Changes

A number of research analysts recently weighed in on PNR shares. Wolfe Research assumed coverage on Pentair in a research note on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price target on the stock. Robert W. Baird upped their target price on Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Pentair in a research report on Thursday, November 21st. KeyCorp restated a “sector weight” rating and set a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Finally, Stifel Nicolaus dropped their price objective on shares of Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Four equities research 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $112.93.

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.