Lecap Asset Management Ltd. Sells 1,284 Shares of Pentair plc (NYSE:PNR)

Lecap Asset Management Ltd. lessened its holdings in shares of Pentair plc (NYSE:PNR) by 9.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,706 shares of the industrial products company’s stock after selling 1,284 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Pentair were worth $1,178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Quarry LP grew 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 buying an additional 134 shares in the last quarter. SJS Investment Consulting Inc. grew its position in shares of Pentair by 753.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 294 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 327 shares during the period. Eastern Bank lifted its holdings in Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 300 shares in the last quarter. Finally, Friedenthal Financial bought a new position in Pentair in the 4th quarter worth about $56,000. Institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wolfe Research assumed coverage on shares of Pentair in a report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 target price on the stock. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday. TD Cowen lifted their price objective on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus lowered their price target on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pentair presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.25.

Pentair Trading Down 0.8 %

Shares of PNR opened at $97.88 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. Pentair plc has a fifty-two week low of $72.44 and a fifty-two week high of $110.71. The firm has a 50 day moving average price of $102.88 and a 200-day moving average price of $97.25. The firm has a market cap of $16.17 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 1.65 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. The business had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 earnings per share. As a group, equities research analysts forecast that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were paid a $0.25 dividend. This is a boost from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, January 24th. 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.