Pentair plc (NYSE:PNR) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its stake in Pentair plc (NYSE:PNR) by 100.6% in the 4th quarter, Holdings Channel reports. The firm owned 5,072 shares of the industrial products company’s stock after purchasing an additional 2,544 shares during the period. Kingsview Wealth Management LLC’s holdings in Pentair were worth $510,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Richardson Financial Services Inc. grew its stake in shares of Pentair by 16.1% in the fourth quarter. Richardson Financial Services Inc. now owns 916 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 127 shares in the last quarter. Inspire Advisors LLC grew its stake in shares of Pentair by 1.6% in the third quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock worth $794,000 after acquiring an additional 130 shares in the last quarter. Quarry LP grew its stake in shares of Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 134 shares in the last quarter. Annex Advisory Services LLC grew its stake in shares of Pentair by 2.9% in the fourth quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company’s stock worth $540,000 after acquiring an additional 151 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Pentair by 14.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,337 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 167 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Trading Down 0.9 %

Shares of Pentair stock opened at $97.10 on Friday. Pentair plc has a 52-week low of $72.63 and a 52-week high of $110.71. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The company’s 50-day simple moving average is $102.04 and its 200-day simple moving average is $97.57. The firm has a market cap of $16.04 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The business had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. During the same period in the previous year, the business posted $0.87 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. This is a positive change from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, January 24th. Pentair’s payout ratio is 26.74%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PNR shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Pentair in a research report on Thursday, November 21st. TD Cowen boosted their price target on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Citigroup reduced their price target on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, 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 price target for the company. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Pentair has an average rating of “Moderate Buy” and a consensus target price of $111.25.

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.