Teacher Retirement System of Texas Increases Stock Position in Pentair plc (NYSE:PNR)

Teacher Retirement System of Texas grew its position in Pentair plc (NYSE:PNR) by 219.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 604,758 shares of the industrial products company’s stock after purchasing an additional 415,163 shares during the period. Teacher Retirement System of Texas owned about 0.37% of Pentair worth $60,863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Royal London Asset Management Ltd. increased its holdings in Pentair by 6.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 88,321 shares of the industrial products company’s stock worth $8,889,000 after buying an additional 5,088 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in Pentair by 201.3% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,891 shares of the industrial products company’s stock worth $995,000 after buying an additional 6,608 shares during the last quarter. Xponance Inc. increased its holdings in Pentair by 6.3% during the fourth quarter. Xponance Inc. now owns 23,873 shares of the industrial products company’s stock worth $2,403,000 after buying an additional 1,420 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in Pentair during the fourth quarter worth about $2,809,000. Finally, Advisors Asset Management Inc. increased its holdings in Pentair by 45.0% during the fourth quarter. Advisors Asset Management Inc. now owns 36,251 shares of the industrial products company’s stock worth $3,648,000 after buying an additional 11,249 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Barclays lifted their target price on shares of Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Stifel Nicolaus reduced their target price on shares of Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, January 24th. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Pentair in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.93.

Pentair Trading Down 0.8 %

Shares of Pentair stock opened at $88.34 on Friday. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The firm has a market cap of $14.56 billion, a PE ratio of 23.62, a PEG ratio of 1.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The company has a 50 day simple moving average of $95.91 and a two-hundred day simple moving average of $98.57.

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

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders 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 annualized dividend and a yield of 1.13%. Pentair’s payout ratio 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.