Gotham Asset Management LLC Buys 104,674 Shares of Pentair plc $PNR

Gotham Asset Management LLC increased its holdings in Pentair plc (NYSE:PNR) by 27.0% during the 4th quarter, HoldingsChannel reports. The firm owned 491,817 shares of the industrial products company’s stock after buying an additional 104,674 shares during the period. Gotham Asset Management LLC’s holdings in Pentair were worth $51,218,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Avanza Fonder AB boosted its stake in shares of Pentair by 142.1% during the fourth quarter. Avanza Fonder AB now owns 38,940 shares of the industrial products company’s stock valued at $4,055,000 after purchasing an additional 22,858 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in 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 worth $274,810,000 after purchasing an additional 305,166 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Pentair by 22.8% during the fourth quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock worth $366,787,000 after buying an additional 647,162 shares during the period. SG Americas Securities LLC lifted its stake in shares of Pentair by 624.2% during the fourth quarter. SG Americas Securities LLC now owns 362,648 shares of the industrial products company’s stock worth $37,766,000 after buying an additional 312,574 shares during the period. Finally, Clean Energy Transition LLP grew its holdings in shares of Pentair by 26.7% during the third quarter. Clean Energy Transition LLP now owns 313,005 shares of the industrial products company’s stock valued at $34,668,000 after buying an additional 66,036 shares during the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PNR. Barclays reduced their target price on Pentair from $95.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Robert W. Baird set a $110.00 price objective on Pentair in a research note on Wednesday, April 29th. Bank of America cut their price target 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. Wall Street Zen lowered shares of Pentair from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Seaport Research Partners decreased their price objective on shares of Pentair from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $107.86.

Pentair Stock Performance

Shares of PNR stock opened at $73.38 on Thursday. Pentair plc has a 52-week low of $69.93 and a 52-week high of $113.95. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51. The stock has a market cap of $11.86 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.27 and a beta of 1.05. The business has a 50-day simple moving average of $79.27 and a 200-day simple moving average of $92.37.

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. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $1.11 earnings per share. Pentair’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts expect that Pentair plc will post 5.35 EPS for the current year.

Pentair Announces Dividend

The company also recently announced 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 of this dividend is Friday, July 24th. Pentair’s payout ratio is 26.47%.

Pentair Profile

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.