12,990 Shares in Pentair plc (NYSE:PNR) Purchased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. purchased a new position in Pentair plc (NYSE:PNR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,990 shares of the industrial products company’s stock, valued at approximately $1,270,000.

A number of other hedge funds also recently bought and sold shares of PNR. Allspring Global Investments Holdings LLC increased its position in shares of Pentair by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock valued at $610,000 after purchasing an additional 121 shares during the last quarter. Wedmont Private Capital lifted its holdings in Pentair by 3.9% during the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after purchasing an additional 128 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Pentair by 3.8% during the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 129 shares in the last quarter. Inspire Advisors LLC lifted its holdings in Pentair by 1.6% during the third quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock valued at $794,000 after purchasing an additional 130 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in Pentair by 0.4% during the second quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock valued at $2,808,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PNR shares. Barclays upped their target price on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group upped their target price on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada upped their target price on shares of Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group upped their target price on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their target price on shares of Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Stock Performance

Shares of NYSE:PNR opened at $98.00 on Thursday. The firm has a market cap of $16.22 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.78 and a beta of 1.20. The firm’s 50 day simple moving average is $92.24 and its 200-day simple moving average is $84.73. Pentair plc has a one year low of $57.18 and a one year high of $99.96. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. As a group, equities analysts predict that Pentair plc will post 4.26 EPS for the current year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s payout ratio is 23.29%.

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.