Palisade Asset Management LLC Has $698,000 Stake in Pentair PLC (PNR)
Palisade Asset Management LLC lifted its holdings in shares of Pentair PLC (NYSE:PNR) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,673 shares of the industrial products company’s stock after purchasing an additional 425 shares during the quarter. Palisade Asset Management LLC’s holdings in Pentair were worth $698,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. CSat Investment Advisory L.P. grew its stake in Pentair by 47.8% in the 4th quarter. CSat Investment Advisory L.P. now owns 1,017 shares of the industrial products company’s stock valued at $38,000 after buying an additional 329 shares during the last quarter. Enlightenment Research LLC acquired a new position in Pentair in the 4th quarter valued at $42,000. Mercer Capital Advisers Inc. grew its stake in Pentair by 52.0% in the 4th quarter. Mercer Capital Advisers Inc. now owns 1,900 shares of the industrial products company’s stock valued at $72,000 after buying an additional 650 shares during the last quarter. ETF Managers Group LLC grew its stake in Pentair by 19.6% in the 4th quarter. ETF Managers Group LLC now owns 1,984 shares of the industrial products company’s stock valued at $75,000 after buying an additional 325 shares during the last quarter. Finally, ERTS Wealth Advisors LLC acquired a new position in Pentair in the 4th quarter valued at $156,000. Institutional investors own 85.80% of the company’s stock.
A number of research analysts recently issued reports on PNR shares. Zacks Investment Research upgraded shares of Pentair from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Thursday, December 20th. ValuEngine upgraded shares of Pentair from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. BMO Capital Markets reduced their price target on shares of Pentair from $47.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, April 10th. Finally, Oppenheimer reissued a “hold” rating on shares of Pentair in a report on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $45.90.
Pentair stock traded down $0.17 during mid-day trading on Monday, reaching $39.89. The company had a trading volume of 1,384,104 shares, compared to its average volume of 1,630,435. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.27 and a quick ratio of 0.80. Pentair PLC has a 52 week low of $35.30 and a 52 week high of $72.96. The company has a market cap of $6.86 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 2.50 and a beta of 1.25.
Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The firm had revenue of $740.50 million during the quarter, compared to the consensus estimate of $735.74 million. Pentair had a net margin of 9.92% and a return on equity of 18.86%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 EPS. Analysts expect that Pentair PLC will post 2.33 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Wednesday, April 17th. Pentair’s payout ratio is 30.64%.
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Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.
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