United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Buys Shares of 11,800 Pentair plc $PNR

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of Pentair plc (NYSE:PNR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,800 shares of the industrial products company’s stock, valued at approximately $1,229,000.

A number of other institutional investors have also added to or reduced their stakes in PNR. Ameriprise Financial Inc. increased its position in Pentair by 106.7% during 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. Assenagon Asset Management S.A. increased its position in Pentair by 1,690.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 729,663 shares of the industrial products company’s stock valued at $75,987,000 after purchasing an additional 688,921 shares during the period. Nordea Investment Management AB increased its position in Pentair by 22.8% during 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. 140 Summer Partners LP purchased a new position in Pentair during the 3rd quarter valued at about $60,752,000. Finally, AQR Capital Management LLC increased its position in Pentair by 43.0% during the 3rd quarter. AQR Capital Management LLC now owns 1,472,500 shares of the industrial products company’s stock valued at $161,754,000 after purchasing an additional 442,534 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Down 0.6%

PNR stock opened at $70.90 on Friday. The firm has a 50 day moving average of $82.82 and a 200 day moving average of $95.38. The stock has a market capitalization of $11.46 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.21 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51. Pentair plc has a 52 week low of $70.59 and a 52 week high of $113.95.

Pentair (NYSE:PNR) last released its earnings results 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 net margin of 15.98% and a return on equity of 21.92%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business earned $1.11 EPS. Pentair’s revenue for the quarter was up 2.6% on a year-over-year basis. Sell-side analysts forecast that Pentair plc will post 5.35 earnings per share for the current year.

Pentair Dividend Announcement

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%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup lowered their price target 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. Stifel Nicolaus lowered their price target on shares of Pentair from $110.00 to $103.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. TD Cowen lowered their price target on shares of Pentair from $90.00 to $75.00 and set a “sell” rating on the stock in a report on Wednesday, April 29th. Jefferies Financial Group restated a “buy” rating and issued a $125.00 price target (down from $135.00) on shares of Pentair in a report on Tuesday, March 31st. Finally, Robert W. Baird set a $110.00 price target on shares of Pentair in a report on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $107.86.

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.