Cibc World Markets Corp Invests $870,000 in Pentair plc (NYSE:PNR)

Cibc World Markets Corp bought a new position in shares of Pentair plc (NYSE:PNR – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,339 shares of the industrial products company’s stock, valued at approximately $870,000.

Other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its position in Pentair by 68.6% in the 4th quarter. AdvisorNet Financial Inc now owns 590 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 240 shares during the period. Eisler Capital UK Ltd. purchased a new stake in Pentair in the 3rd quarter valued at approximately $27,000. TCI Wealth Advisors Inc. raised its holdings in Pentair by 162.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 752 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 465 shares during the last quarter. Ancora Advisors LLC acquired a new position in Pentair in the 1st quarter valued at $56,000. Finally, Quadrant Capital Group LLC raised its holdings in Pentair by 88.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,397 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 654 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

Pentair Stock Down 0.5 %

Shares of NYSE PNR opened at $59.16 on Monday. Pentair plc has a 12-month low of $38.55 and a 12-month high of $60.85. The company has a market cap of $9.76 billion, a P/E ratio of 19.85, a P/E/G ratio of 1.85 and a beta of 1.12. The company has a current ratio of 1.76, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The stock has a fifty day moving average price of $54.74 and a 200 day moving average price of $51.21.

Pentair (NYSE:PNR – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The industrial products company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.14. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $996.02 million. Pentair had a net margin of 11.88% and a return on equity of 23.09%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 EPS. Research analysts anticipate that Pentair plc will post 3.65 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Friday, July 21st will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $0.88 annualized dividend and a dividend yield of 1.49%. Pentair’s dividend payout ratio is presently 29.53%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley boosted their price target on Pentair from $41.00 to $49.00 and gave the company an “underweight” rating in a report on Wednesday, February 1st. Barclays boosted their price target on Pentair from $65.00 to $66.00 in a report on Monday, May 1st. Cowen upped their price objective on Pentair from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. Oppenheimer upped their price objective on Pentair from $70.00 to $72.00 in a report on Friday, April 28th. Finally, Robert W. Baird upped their price objective on Pentair from $48.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, February 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.14.

Pentair Profile

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Pentair plc engages in the provision of water solutions for residential, commercial, industrial, infrastructure, and agriculture applications. Its portfolio of solutions enables people, businesses, and industries to access clean, safe water, reduce water consumption, and recover and reuse it. The firm operates through the following business segments: Consumer Solutions and Industrial & Flow Technologies.