Chicago Partners Investment Group LLC Purchases Shares of 2,061 Pentair plc (NYSE:PNR)

Chicago Partners Investment Group LLC acquired a new position in shares of Pentair plc (NYSE:PNR) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 2,061 shares of the industrial products company’s stock, valued at approximately $205,000.

Several other hedge funds have also modified their holdings of the stock. National Bank of Canada FI increased its holdings in Pentair by 862.2% during the 3rd quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock worth $43,212,000 after purchasing an additional 395,962 shares during the period. World Investment Advisors LLC acquired a new position in shares of Pentair during the third quarter worth about $26,748,000. State Street Corp increased its stake in shares of Pentair by 3.1% during the third 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 raised its holdings in Pentair by 4.7% in the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after acquiring an additional 258,134 shares in the last quarter. Finally, Swedbank AB lifted its stake in Pentair by 17.9% in the third quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after acquiring an additional 205,000 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Trading Up 0.5 %

NYSE PNR opened at $98.78 on Thursday. The firm’s fifty day moving average is $103.31 and its two-hundred day moving average is $97.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The firm has a market cap of $16.32 billion, a PE ratio of 24.69, a P/E/G ratio of 1.65 and a beta of 1.20. Pentair plc has a one year low of $72.30 and a one year high of $110.71.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.02 by $0.06. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company had revenue of $972.90 million during the quarter, compared to analysts’ expectations of $970.95 million. During the same quarter last year, the business earned $0.87 EPS. The business’s revenue was down 1.2% on a year-over-year basis. Analysts expect that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.25 per share. This is a positive change from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, January 24th. Pentair’s payout ratio is presently 25.00%.

Analysts Set New Price Targets

A number of brokerages have commented on PNR. JPMorgan Chase & Co. increased their price objective on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. UBS Group increased their target price on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. TD Cowen increased their price objective on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of Pentair in a research note on Thursday, November 21st. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and an average price target of $111.25.

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.