Elo Mutual Pension Insurance Co Increases Stock Holdings in Pentair plc (NYSE:PNR)

Elo Mutual Pension Insurance Co boosted its stake in Pentair plc (NYSE:PNR) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,198 shares of the industrial products company’s stock after acquiring an additional 2,451 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Pentair were worth $1,731,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quarry LP boosted its stake in shares of Pentair by 105.5% during 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 in the last quarter. SJS Investment Consulting Inc. lifted its holdings in Pentair by 753.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after buying an additional 294 shares during the period. Eastern Bank boosted its position in Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 300 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Pentair during the 4th quarter worth approximately $55,000. Finally, Friedenthal Financial bought a new position in shares of Pentair in the 4th quarter worth approximately $56,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup dropped their price target on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus dropped their target price on shares of Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Barclays lowered their price target on shares of Pentair from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, KeyCorp restated a “sector weight” rating and issued a $115.00 price objective on shares of Pentair in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $112.27.

Pentair Stock Performance

Shares of PNR opened at $86.76 on Friday. The company has a market cap of $14.30 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 1.87 and a beta of 1.23. The business’s fifty day simple moving average is $94.54 and its two-hundred day simple moving average is $98.77. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, beating 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 company had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. During the same period last year, the firm posted $0.87 earnings per share. Pentair’s revenue was down 1.2% compared to the same quarter last year. Research analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. Pentair’s payout ratio is 26.74%.

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.