Pentair plc (NYSE:PNR) Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its position in shares of Pentair plc (NYSE:PNR) by 15.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,580 shares of the industrial products company’s stock after buying an additional 338 shares during the period. Wealthfront Advisers LLC’s holdings in Pentair were worth $260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Pentair by 3.1% during the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after buying an additional 259,922 shares during the period. FMR LLC increased its stake in Pentair by 4.7% during the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after buying an additional 258,134 shares during the period. Geode Capital Management LLC increased its stake in 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 buying an additional 19,853 shares during the period. Swedbank AB increased its stake in Pentair by 17.9% during the 3rd quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after buying an additional 205,000 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Pentair by 0.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company’s stock worth $101,653,000 after buying an additional 7,434 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

Shares of NYSE:PNR opened at $87.28 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The firm has a 50-day simple moving average of $96.56 and a 200 day simple moving average of $98.72. The company has a market cap of $14.38 billion, a PE ratio of 23.34, a P/E/G ratio of 1.87 and a beta of 1.23.

Pentair (NYSE:PNR) last posted its earnings results 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. The firm had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. Pentair’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. On average, sell-side analysts anticipate that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair’s payout ratio is 26.74%.

Analyst Upgrades and Downgrades

PNR has been the topic of several analyst reports. Citigroup dropped their price target on shares of Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Wolfe Research began coverage on shares of Pentair in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price for the company. KeyCorp reissued a “sector weight” rating and issued a $115.00 target price on shares of Pentair in a research report on Monday, January 6th. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Finally, Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.