Pentair plc $PNR Shares Purchased by Parnassus Investments LLC

Parnassus Investments LLC increased its position in shares of Pentair plc (NYSE:PNR) by 6.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 456,104 shares of the industrial products company’s stock after acquiring an additional 29,198 shares during the quarter. Parnassus Investments LLC’s holdings in Pentair were worth $47,499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Pentair by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 4,428,737 shares of the industrial products company’s stock valued at $459,480,000 after purchasing an additional 137,980 shares during the period. Nordea Investment Management AB boosted its position in shares of Pentair by 22.8% in the 4th quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock valued at $366,787,000 after purchasing an additional 647,162 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Pentair by 106.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,236,826 shares of the industrial products company’s stock valued at $358,521,000 after purchasing an additional 1,670,944 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Pentair by 13.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,638,855 shares of the industrial products company’s stock valued at $274,810,000 after purchasing an additional 305,166 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Pentair by 0.9% in the 3rd quarter. Northern Trust Corp now owns 2,149,531 shares of the industrial products company’s stock valued at $238,082,000 after purchasing an additional 18,716 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

PNR has been the subject of a number of recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $125.00 price target (down from $135.00) on shares of Pentair in a research report on Tuesday, March 31st. Seaport Research Partners decreased their price target on Pentair from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Wall Street Zen lowered Pentair from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Citigroup decreased their price target on Pentair from $112.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Finally, TD Cowen decreased their price target on Pentair from $90.00 to $75.00 and set a “sell” 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Pentair presently has an average rating of “Hold” and a consensus price target of $107.86.

Pentair Trading Up 1.6%

Shares of NYSE PNR opened at $72.55 on Friday. Pentair plc has a one year low of $69.93 and a one year high of $113.95. The firm has a market capitalization of $11.73 billion, a PE ratio of 17.78, a PEG ratio of 1.21 and a beta of 1.05. The company has a current ratio of 1.88, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $80.24 and a two-hundred day moving average price of $93.25.

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

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, July 24th. Pentair’s payout ratio is currently 26.47%.

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.