Pentair plc (NYSE:PNR) Shares Acquired by M&T Bank Corp

M&T Bank Corp boosted its position in Pentair plc (NYSE:PNR) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,590 shares of the industrial products company’s stock after purchasing an additional 172 shares during the period. M&T Bank Corp’s holdings in Pentair were worth $2,369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PNR. Assetmark Inc. lifted its holdings in shares of Pentair by 935.1% in the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after buying an additional 346 shares during the period. Lindbrook Capital LLC raised its position in Pentair by 82.4% in the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 154 shares in the last quarter. Quent Capital LLC lifted its holdings in Pentair by 112.7% in the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 213 shares during the period. Operose Advisors LLC purchased a new stake in shares of Pentair during the 3rd quarter worth $34,000. Finally, Rational Advisors LLC acquired a new position in shares of Pentair during the 3rd quarter worth $41,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Barclays raised their price objective on shares of Pentair from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. TD Cowen lifted their price target on shares of Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. UBS Group upped their price target on Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Northcoast Research raised Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Monday, April 15th. Finally, Bank of America upgraded Pentair from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.93.

Pentair Trading Up 0.4 %

Pentair stock opened at $83.36 on Thursday. The stock has a market cap of $13.84 billion, a PE ratio of 22.17, a P/E/G ratio of 1.37 and a beta of 1.24. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $81.25 and a 200 day moving average price of $73.01. Pentair plc has a 52 week low of $55.26 and a 52 week high of $85.81.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 earnings per share. Equities research analysts predict that Pentair plc will post 4.24 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, July 19th. Pentair’s dividend payout ratio (DPR) is 24.47%.

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.