Harvest Fund Management Co. Ltd Has $995,000 Stock Holdings in Pentair plc (NYSE:PNR)

Harvest Fund Management Co. Ltd raised its stake in Pentair plc (NYSE:PNR) by 201.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,891 shares of the industrial products company’s stock after purchasing an additional 6,608 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Pentair were worth $995,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PNR. Independent Advisor Alliance raised its holdings in Pentair by 1.4% in the 4th quarter. Independent Advisor Alliance now owns 7,628 shares of the industrial products company’s stock valued at $768,000 after acquiring an additional 103 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Pentair by 11.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,194 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 118 shares during the period. Richardson Financial Services Inc. lifted its holdings in Pentair by 16.1% during the 4th quarter. Richardson Financial Services Inc. now owns 916 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 127 shares during the last quarter. Quarry LP boosted its stake in Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 134 shares during the period. Finally, Annex Advisory Services LLC increased its position in Pentair by 2.9% during the 4th quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company’s stock worth $540,000 after buying an additional 151 shares during the period. 92.37% of the stock is owned by institutional investors.

Pentair Stock Up 2.1 %

Shares of NYSE:PNR opened at $89.19 on Thursday. The firm has a market cap of $14.70 billion, a P/E ratio of 23.85, a P/E/G ratio of 1.87 and a beta of 1.23. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The business has a fifty day simple moving average of $96.13 and a 200 day simple moving average of $98.65. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46.

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

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. Pentair’s dividend payout ratio (DPR) is currently 26.74%.

Wall Street Analyst Weigh In

PNR has been the subject of a number of recent research reports. Wolfe Research initiated coverage on shares of Pentair in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price for the company. Barclays boosted their price objective on shares of Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citigroup decreased their target price on shares of Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Robert W. Baird boosted their price target on Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, KeyCorp reissued a “sector weight” rating and set a $115.00 price target on shares of Pentair in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Pentair presently has an average rating of “Moderate Buy” and an average target price of $112.93.

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.