State of Wyoming Makes New $368,000 Investment in Pentair plc $PNR

State of Wyoming purchased a new stake in shares of Pentair plc (NYSE:PNR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,945 shares of the industrial products company’s stock, valued at approximately $368,000.

Several other hedge funds have also recently bought and sold shares of PNR. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Pentair in the 3rd quarter valued at about $593,000. Livelsberger Financial Advisory acquired a new stake in shares of Pentair during the third quarter worth approximately $40,000. Childress Capital Advisors LLC purchased a new position in Pentair during the third quarter valued at approximately $209,000. D.A. Davidson & CO. purchased a new position in Pentair during the third quarter valued at approximately $913,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in Pentair during the third quarter valued at approximately $65,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Price Performance

NYSE PNR opened at $72.13 on Thursday. Pentair plc has a fifty-two week low of $51.13 and a fifty-two week high of $109.89. The stock’s 50-day moving average is $57.20 and its two-hundred day moving average is $75.94. The firm has a market cap of $11.52 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 1.64 and a beta of 1.01. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 0.77.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.11. Pentair had a return on equity of 20.10% and a net margin of 15.44%. The company had revenue of $976.40 million during the quarter, compared to the consensus estimate of $963.71 million. During the same quarter in the prior year, the company posted $1.24 EPS. The firm’s revenue was down 4.5% on a year-over-year basis. On average, analysts anticipate that Pentair plc will post 4.70 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 23rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, October 23rd. Pentair’s dividend payout ratio (DPR) is 28.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada increased their target price on shares of Pentair from $61.00 to $69.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $81.00 price target on shares of Pentair in a report on Monday, July 27th. Weiss Ratings lowered Pentair from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, October 28th. Oppenheimer reduced their price objective on Pentair from $94.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, October 21st. Finally, UBS Group set a $65.00 target price on Pentair in a research note on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Pentair currently has a consensus rating of “Hold” and a consensus price target of $76.59.

About Pentair

Pentair plc (NYSE: PNR) is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.