Arizona State Retirement System Buys 502 Shares of Pentair plc (NYSE:PNR)

Arizona State Retirement System raised its stake in shares of Pentair plc (NYSE:PNR) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,068 shares of the industrial products company’s stock after acquiring an additional 502 shares during the period. Arizona State Retirement System’s holdings in Pentair were worth $4,838,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quarry LP lifted its stake in Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 134 shares in the last quarter. SJS Investment Consulting Inc. increased its position in shares of Pentair by 753.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 294 shares during the last quarter. Eastern Bank increased its position in shares of Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 300 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of Pentair during the 4th quarter valued at $56,000. Finally, Spire Wealth Management purchased a new stake in shares of Pentair during the 4th quarter valued at $64,000. 92.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on PNR. KeyCorp reaffirmed a “sector weight” rating and set a $115.00 target price on shares of Pentair in a research report on Monday, January 6th. Citigroup decreased their target price on Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, January 13th. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Barclays lifted their price objective on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.25.

Pentair Stock Performance

Shares of PNR opened at $88.15 on Friday. The company has a market cap of $14.53 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $98.33 and a 200-day moving average price of $98.64. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71.

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, beating analysts’ consensus estimates of $1.02 by $0.06. The firm had revenue of $972.90 million during the quarter, compared to the consensus estimate of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.87 EPS. As a group, equities analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. Pentair’s dividend payout ratio (DPR) is presently 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.