Pentair plc $PNR Shares Purchased by Parnassus Investments LLC

Parnassus Investments LLC boosted its stake in Pentair plc (NYSE:PNR) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 456,104 shares of the industrial products company’s stock after buying an additional 29,198 shares during the period. Parnassus Investments LLC owned 0.28% of Pentair worth $47,499,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wexford Capital LP acquired a new stake in Pentair in the third quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC increased its position in Pentair by 71.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 252 shares of the industrial products company’s stock worth $26,000 after buying an additional 105 shares during the period. Park Square Financial Group LLC increased its position in Pentair by 502.8% in the fourth quarter. Park Square Financial Group LLC now owns 434 shares of the industrial products company’s stock worth $44,000 after buying an additional 362 shares during the period. Clearstead Advisors LLC increased its position in Pentair by 86.4% in the third quarter. Clearstead Advisors LLC now owns 440 shares of the industrial products company’s stock worth $49,000 after buying an additional 204 shares during the period. Finally, Zions Bancorporation National Association UT increased its position in Pentair by 77.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 479 shares of the industrial products company’s stock worth $50,000 after buying an additional 209 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PNR shares. Bank of America dropped their target price on Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. Barclays lowered their price target on Pentair from $95.00 to $92.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Royal Bank Of Canada lowered their price target on Pentair from $107.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings lowered Pentair from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Citigroup lowered their price target on Pentair from $112.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $107.86.

Pentair Price Performance

NYSE:PNR opened at $72.55 on Friday. The business’s 50-day moving average price is $80.24 and its 200 day moving average price is $93.25. The firm has a market cap of $11.73 billion, a P/E ratio of 17.78, a PEG ratio of 1.21 and a beta of 1.05. Pentair plc has a 52-week low of $69.93 and a 52-week high of $113.95. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR) last released its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.Pentair’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 earnings per share. As a group, sell-side analysts predict that Pentair plc will post 5.35 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, July 24th. Pentair’s payout ratio is presently 26.47%.

Pentair Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.