Pentair plc (NYSE:PNR) Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its holdings in shares of Pentair plc (NYSE:PNR) by 67.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 888,212 shares of the industrial products company’s stock after buying an additional 357,523 shares during the period. Allianz Asset Management GmbH owned 0.54% of Pentair worth $89,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. ING Groep NV lifted its stake in Pentair by 438.1% during the fourth quarter. ING Groep NV now owns 119,103 shares of the industrial products company’s stock worth $11,987,000 after purchasing an additional 96,969 shares during the last quarter. Ieq Capital LLC raised its holdings in Pentair by 428.6% during the fourth quarter. Ieq Capital LLC now owns 61,928 shares of the industrial products company’s stock worth $6,232,000 after purchasing an additional 50,213 shares in the last quarter. Private Advisor Group LLC raised its holdings in Pentair by 28.5% during the fourth quarter. Private Advisor Group LLC now owns 6,934 shares of the industrial products company’s stock worth $698,000 after purchasing an additional 1,539 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Pentair by 33.0% during the 4th quarter. Global Retirement Partners LLC now owns 5,112 shares of the industrial products company’s stock worth $514,000 after buying an additional 1,269 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its holdings in shares of Pentair by 91.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 4,150 shares of the industrial products company’s stock valued at $418,000 after buying an additional 1,986 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PNR shares. Wolfe Research started coverage on shares of Pentair in a research note on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price target on the stock. Robert W. Baird lifted their target price on Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Stifel Nicolaus cut their price target on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, Citigroup reduced their price objective on Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.25.

Pentair Stock Down 2.5 %

Shares of Pentair stock opened at $92.89 on Friday. Pentair plc has a one year low of $72.63 and a one year high of $110.71. The company has a market cap of $15.35 billion, a P/E ratio of 24.84, a PEG ratio of 1.88 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The firm has a fifty day moving average of $100.54 and a two-hundred day moving average of $97.99.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 earnings per share. On average, analysts forecast that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. Pentair’s payout ratio is 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.