QRG Capital Management Inc. Acquires 229 Shares of Pentair plc (NYSE:PNR)

QRG Capital Management Inc. grew its holdings in shares of Pentair plc (NYSE:PNR) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,550 shares of the industrial products company’s stock after purchasing an additional 229 shares during the quarter. QRG Capital Management Inc.’s holdings in Pentair were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of PNR. Harbour Investments Inc. lifted its position in shares of Pentair by 10.7% in the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock worth $644,000 after buying an additional 636 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in Pentair in the 4th quarter worth approximately $989,000. Algert Global LLC bought a new stake in Pentair during the third quarter worth approximately $479,000. FMR LLC grew its holdings in Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after purchasing an additional 258,134 shares during the last quarter. Finally, Pathstone Holdings LLC raised its position in shares of Pentair by 47.4% in the third quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock valued at $1,944,000 after purchasing an additional 6,391 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PNR. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Barclays upped their price target on shares of Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Oppenheimer lifted their price objective on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Robert W. Baird increased their target price on Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Citigroup lowered their target price on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

Pentair Trading Down 2.8 %

Shares of PNR opened at $91.54 on Tuesday. The stock has a 50 day simple moving average of $99.52 and a 200-day simple moving average of $98.55. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market cap of $15.09 billion, a PE ratio of 24.48, a PEG ratio of 1.87 and a beta of 1.20. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $970.95 million. During the same period in the prior year, the company posted $0.87 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, sell-side analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 1.09%. Pentair’s dividend payout ratio is 26.74%.

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.