Frank Rimerman Advisors LLC Boosts Stock Position in Pentair plc (NYSE:PNR)

Frank Rimerman Advisors LLC grew its stake in shares of Pentair plc (NYSE:PNR) by 4.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,007 shares of the industrial products company’s stock after buying an additional 274 shares during the period. Frank Rimerman Advisors LLC’s holdings in Pentair were worth $705,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Quarry LP lifted its holdings in Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares in the last quarter. SJS Investment Consulting Inc. lifted its holdings in Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 294 shares in the last quarter. Eastern Bank lifted its holdings in Pentair by 144.9% in the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 300 shares in the last quarter. Friedenthal Financial purchased a new position in Pentair in the 4th quarter worth approximately $56,000. Finally, Intact Investment Management Inc. purchased a new position in Pentair in the 4th quarter worth approximately $60,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on PNR shares. Barclays boosted their price target on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Robert W. Baird lifted their price objective on Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Stifel Nicolaus reduced their price objective on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.93.

Pentair Price Performance

PNR opened at $86.18 on Friday. The business has a fifty day moving average of $96.80 and a 200 day moving average of $98.63. Pentair plc has a 52-week low of $72.63 and a 52-week high of $110.71. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The stock has a market cap of $14.20 billion, a P/E ratio of 23.04, a PEG ratio of 1.87 and a beta of 1.23.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The company had revenue of $972.90 million during the quarter, compared to analysts’ expectations of $970.95 million. During the same quarter in the previous year, the business earned $0.87 EPS. Pentair’s revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio is 26.74%.

Pentair Company Profile

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.