Crestline Management LP Grows Position in Pentair plc (NYSE:PNR)

Crestline Management LP raised its stake in Pentair plc (NYSE:PNR) by 21.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,922 shares of the industrial products company’s stock after buying an additional 5,268 shares during the quarter. Crestline Management LP’s holdings in Pentair were worth $3,011,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Cubist Systematic Strategies LLC acquired a new stake in Pentair in the 4th quarter valued at approximately $6,841,000. Cetera Investment Advisers grew its position in Pentair by 12.3% in the 4th quarter. Cetera Investment Advisers now owns 65,634 shares of the industrial products company’s stock valued at $6,605,000 after acquiring an additional 7,183 shares in the last quarter. Bridgefront Capital LLC purchased a new stake in Pentair during the fourth quarter worth about $409,000. Captrust Financial Advisors lifted its position in shares of Pentair by 4.5% during the fourth quarter. Captrust Financial Advisors now owns 40,332 shares of the industrial products company’s stock worth $4,059,000 after purchasing an additional 1,723 shares in the last quarter. Finally, Cary Street Partners Financial LLC purchased a new position in shares of Pentair in the fourth quarter valued at approximately $278,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Insider Activity

In related news, Director David A. /Wi Jones sold 6,558 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the transaction, the director now owns 26,313 shares of the company’s stock, valued at approximately $2,366,591.22. This represents a 19.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Pentair Trading Up 0.2 %

Shares of PNR stock opened at $91.76 on Thursday. The stock has a market cap of $15.10 billion, a P/E ratio of 24.54, a P/E/G ratio of 1.87 and a beta of 1.11. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The business has a fifty day simple moving average of $86.40 and a 200-day simple moving average of $96.53.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $988.38 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. During the same quarter in the previous year, the business posted $0.94 earnings per share. On average, analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. Pentair’s dividend payout ratio (DPR) is 25.84%.

Wall Street Analyst Weigh In

PNR has been the subject of a number of recent research reports. UBS Group decreased their target price on Pentair from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Royal Bank of Canada upped their target price on shares of Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 23rd. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Barclays lifted their price objective on shares of Pentair from $110.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Finally, Robert W. Baird cut their target price on Pentair from $114.00 to $107.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.93.

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.