Sumitomo Mitsui Trust Group Inc. Purchases 543 Shares of Pentair plc (NYSE:PNR)

Sumitomo Mitsui Trust Group Inc. boosted its position in Pentair plc (NYSE:PNR) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 421,430 shares of the industrial products company’s stock after purchasing an additional 543 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.26% of Pentair worth $42,413,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PNR. Harbour Investments Inc. increased its stake in shares of Pentair by 10.7% in the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock valued at $644,000 after buying an additional 636 shares during the period. Moody National Bank Trust Division acquired a new position in Pentair in the 4th quarter valued at approximately $989,000. Algert Global LLC bought a new position in shares of Pentair during the third quarter valued at $479,000. FMR LLC lifted its holdings in shares of Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after purchasing an additional 258,134 shares during the period. Finally, Pathstone Holdings LLC grew its stake in shares of Pentair by 47.4% in the third quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock worth $1,944,000 after purchasing an additional 6,391 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PNR has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Barclays upped their target price on Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Wolfe Research initiated coverage on shares of Pentair in a report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price target for the company. Oppenheimer boosted their price target on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Pentair has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

Pentair Stock Up 0.5 %

Shares of NYSE:PNR opened at $98.40 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.91 and a current ratio of 1.60. Pentair plc has a 52-week low of $72.44 and a 52-week high of $110.71. The business’s 50 day simple moving average is $102.66 and its two-hundred day simple moving average is $97.50. The firm has a market cap of $16.26 billion, a P/E ratio of 26.31, a PEG ratio of 1.93 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its 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 company had revenue of $972.90 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business earned $0.87 EPS. As a group, research analysts forecast that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, January 24th. This is a positive change from Pentair’s previous quarterly dividend of $0.23. Pentair’s dividend payout ratio is currently 26.74%.

About Pentair

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.