Pentair plc (NYSE:PNR) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in Pentair plc (NYSE:PNR) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,086,763 shares of the industrial products company’s stock after buying an additional 87,244 shares during the quarter. Geode Capital Management LLC’s holdings in Pentair were worth $410,240,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Quarry LP lifted its holdings in Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 134 shares during the period. SJS Investment Consulting Inc. grew its stake in shares of Pentair by 753.8% during 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 during the period. Eastern Bank increased its holdings in shares of Pentair by 144.9% in the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 300 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Pentair in the fourth quarter valued at about $55,000. Finally, Friedenthal Financial purchased a new stake in Pentair during the fourth quarter worth about $56,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Price Performance

Pentair stock opened at $78.66 on Friday. The firm’s 50-day moving average is $92.63 and its two-hundred day moving average is $98.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The stock has a market capitalization of $12.96 billion, a P/E ratio of 21.03, a P/E/G ratio of 1.87 and a beta of 1.13. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71.

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

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair’s payout ratio is 26.74%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PNR shares. Citigroup reduced their price target on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, January 13th. KeyCorp reaffirmed a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a report on Monday, January 6th. Baird R W raised Pentair from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 25th. Robert W. Baird upgraded Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price target for the company in a research report on Tuesday, March 25th. Finally, Northcoast Research upgraded shares of Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.27.

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.