Inceptionr LLC Takes Position in Pentair plc (NYSE:PNR)

Inceptionr LLC acquired a new stake in Pentair plc (NYSE:PNR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 17,609 shares of the industrial products company’s stock, valued at approximately $1,772,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Pentair in the fourth quarter valued at $14,989,000. Arizona State Retirement System boosted its holdings in Pentair by 1.1% in the fourth quarter. Arizona State Retirement System now owns 48,068 shares of the industrial products company’s stock valued at $4,838,000 after acquiring an additional 502 shares during the last quarter. Sound Financial Strategies Group LLC boosted its holdings in Pentair by 7.3% in the fourth quarter. Sound Financial Strategies Group LLC now owns 9,722 shares of the industrial products company’s stock valued at $978,000 after acquiring an additional 661 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Pentair in the fourth quarter valued at $55,000. Finally, Assetmark Inc. boosted its holdings in Pentair by 69.6% in the fourth quarter. Assetmark Inc. now owns 2,237 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 918 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PNR shares. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Citigroup reduced their price objective on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Oppenheimer boosted their price objective on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Robert W. Baird boosted their price objective on Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $111.25.

Pentair Stock Up 1.7 %

Shares of Pentair stock opened at $91.18 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The firm has a market cap of $15.03 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.87 and a beta of 1.23. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The business has a 50-day moving average price of $99.07 and a 200 day moving average price of $98.63.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.06. The firm had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. Pentair’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. On average, sell-side analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.10%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio is currently 26.74%.

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.