Russell Investments Group Ltd. Grows Stock Holdings in Pentair plc (NYSE:PNR)

Russell Investments Group Ltd. lifted its position in Pentair plc (NYSE:PNR) by 12.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 334,613 shares of the industrial products company’s stock after purchasing an additional 37,163 shares during the quarter. Russell Investments Group Ltd. owned 0.20% of Pentair worth $24,345,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PNR. Assetmark Inc. boosted its stake in Pentair by 935.1% in the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after buying an additional 346 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 154 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Pentair by 97.6% in the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 202 shares in the last quarter. Quent Capital LLC grew its holdings in shares of Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. Finally, Baystate Wealth Management LLC bought a new position in shares of Pentair during the 3rd quarter valued at $30,000. 92.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Royal Bank of Canada upped their price target on shares of Pentair from $101.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. UBS Group lifted their price target on Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Mizuho boosted their price objective on Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Citigroup raised their target price on shares of Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Bank of America upgraded shares of Pentair from an “underperform” rating to a “neutral” rating and upped their price target for the company from $46.00 to $76.00 in a report on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.93.

Pentair Stock Down 0.0 %

PNR stock opened at $79.07 on Thursday. Pentair plc has a fifty-two week low of $55.26 and a fifty-two week high of $85.81. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 1.36 and a beta of 1.24. The business’s 50 day moving average price is $80.65 and its two-hundred day moving average price is $72.33. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90.

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

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. Pentair’s dividend payout ratio (DPR) is currently 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.