Eventide Asset Management LLC Has $34.03 Million Stock Position in Pentair plc $PNR

Eventide Asset Management LLC lowered its stake in shares of Pentair plc (NYSE:PNR) by 17.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 326,280 shares of the industrial products company’s stock after selling 70,489 shares during the period. Eventide Asset Management LLC’s holdings in Pentair were worth $34,026,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Moors & Cabot Inc. raised its holdings in shares of Pentair by 0.9% during the third quarter. Moors & Cabot Inc. now owns 11,006 shares of the industrial products company’s stock valued at $1,219,000 after purchasing an additional 100 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Pentair by 71.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 105 shares during the period. Private Advisor Group LLC raised its holdings in shares of Pentair by 1.2% during the third quarter. Private Advisor Group LLC now owns 8,888 shares of the industrial products company’s stock valued at $984,000 after purchasing an additional 105 shares during the period. Captrust Financial Advisors raised its holdings in shares of Pentair by 0.3% during the second quarter. Captrust Financial Advisors now owns 38,135 shares of the industrial products company’s stock valued at $3,915,000 after purchasing an additional 107 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in shares of Pentair by 4.0% during the third quarter. Jones Financial Companies Lllp now owns 2,870 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Trading Up 1.5%

NYSE:PNR opened at $73.68 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.19. The firm has a 50-day moving average of $79.98 and a 200-day moving average of $93.12. The company has a market cap of $11.91 billion, a PE ratio of 18.06, a PEG ratio of 1.25 and a beta of 1.05. Pentair plc has a one year low of $69.93 and a one year high of $113.95.

Pentair (NYSE:PNR) last posted its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.17 by $0.05. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 earnings per share. As a group, equities research analysts expect that Pentair plc will post 5.35 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, July 24th. Pentair’s dividend payout ratio is presently 26.47%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PNR. Citigroup dropped their price objective on shares of Pentair from $112.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Bank of America dropped their price objective on shares of Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. Stifel Nicolaus decreased their target price on shares of Pentair from $110.00 to $103.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Weiss Ratings downgraded shares of Pentair from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Oppenheimer decreased their target price on shares of Pentair from $122.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $107.86.

About Pentair

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.