Intech Investment Management LLC Acquires 7,157 Shares of Pentair plc (NYSE:PNR)

Intech Investment Management LLC increased its holdings in shares of Pentair plc (NYSE:PNR) by 63.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,427 shares of the industrial products company’s stock after purchasing an additional 7,157 shares during the period. Intech Investment Management LLC’s holdings in Pentair were worth $1,574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mizuho Markets Americas LLC boosted its stake in shares of Pentair by 91.4% during the first quarter. Mizuho Markets Americas LLC now owns 145,540 shares of the industrial products company’s stock valued at $12,435,000 after purchasing an additional 69,517 shares in the last quarter. Twin Tree Management LP lifted its position in Pentair by 69.9% during the first quarter. Twin Tree Management LP now owns 10,520 shares of the industrial products company’s stock valued at $899,000 after acquiring an additional 4,329 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Pentair by 11.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 285,234 shares of the industrial products company’s stock valued at $24,370,000 after acquiring an additional 28,423 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Pentair by 5.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock valued at $15,820,000 after acquiring an additional 8,966 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in Pentair during the first quarter valued at approximately $1,100,000. 92.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pentair

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of Pentair stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the transaction, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

Pentair Stock Performance

Shares of Pentair stock traded down $0.72 during trading on Friday, hitting $78.84. 2,174,548 shares of the company’s stock were exchanged, compared to its average volume of 1,919,588. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90. The business has a 50-day simple moving average of $79.27 and a 200-day simple moving average of $78.19. Pentair plc has a 52-week low of $57.18 and a 52-week high of $85.84. The stock has a market capitalization of $13.09 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 1.38 and a beta of 1.21.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $0.91 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. On average, research analysts forecast that Pentair plc will post 4.2 EPS for the current year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be issued a $0.23 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.92 dividend on an annualized basis and a yield of 1.17%. Pentair’s payout ratio is 24.47%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PNR shares. Stifel Nicolaus increased their target price on shares of Pentair from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday. Barclays increased their target price on shares of Pentair from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Oppenheimer increased their target price on shares of Pentair from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. TD Cowen increased their target price on shares of Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, UBS Group raised their price target on shares of Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.29.

Pentair Company Profile

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.