Bank of New York Mellon Corp Grows Stock Position in Pentair plc (NYSE:PNR)

Bank of New York Mellon Corp boosted its position in shares of Pentair plc (NYSE:PNR) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,010,068 shares of the industrial products company’s stock after buying an additional 7,434 shares during the quarter. Bank of New York Mellon Corp owned 0.61% of Pentair worth $101,653,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Quarry LP lifted its holdings in shares of Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 134 shares during the last quarter. SJS Investment Consulting Inc. raised its position in Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 294 shares during the period. Eastern Bank lifted its stake in Pentair by 144.9% in the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 300 shares during the last quarter. Friedenthal Financial purchased a new position in shares of Pentair during the fourth quarter valued at approximately $56,000. Finally, True Wealth Design LLC grew its stake in shares of Pentair by 4,450.0% during the third quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock valued at $62,000 after buying an additional 623 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

PNR opened at $94.29 on Friday. The firm has a market capitalization of $15.54 billion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The business’s 50-day moving average is $99.52 and its two-hundred day moving average is $98.44. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71.

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

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio (DPR) is presently 26.74%.

Wall Street Analysts Forecast Growth

PNR has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of Pentair in a research note on Thursday, November 21st. Citigroup lowered their target price on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, January 13th. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Thursday. Northcoast Research upgraded shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Oppenheimer upped their target price on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock 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.