ING Groep NV Increases Stock Holdings in Pentair plc (NYSE:PNR)

ING Groep NV grew its stake in shares of Pentair plc (NYSE:PNR) by 77,934.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,630 shares of the industrial products company’s stock after buying an additional 22,601 shares during the period. ING Groep NV’s holdings in Pentair were worth $1,645,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Lindbrook Capital LLC lifted its position in shares of Pentair by 82.4% during the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after buying an additional 154 shares in the last quarter. Quent Capital LLC lifted its position 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 buying an additional 213 shares in the last quarter. Operose Advisors LLC purchased a new position in shares of Pentair during the 3rd quarter valued at about $34,000. Rational Advisors LLC purchased a new position in shares of Pentair during the 3rd quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Pentair by 62.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 703 shares of the industrial products company’s stock valued at $46,000 after buying an additional 271 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Stock Performance

NYSE PNR opened at $84.23 on Wednesday. The company has a market cap of $13.98 billion, a P/E ratio of 22.40, a P/E/G ratio of 1.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90. The business’s 50 day moving average price is $82.00 and its 200-day moving average price is $74.66. Pentair plc has a fifty-two week low of $55.26 and a fifty-two week high of $85.84.

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

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s payout ratio is currently 24.47%.

Analyst Ratings Changes

PNR has been the topic of several recent analyst reports. TD Cowen lifted their target price on Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. KeyCorp lifted their target price on Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Barclays lifted their target price on Pentair from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada lifted their price objective on Pentair from $101.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and an average price target of $89.93.

Pentair 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.