Gotham Asset Management LLC Acquires 104,674 Shares of Pentair plc $PNR

Gotham Asset Management LLC increased its stake in Pentair plc (NYSE:PNR) by 27.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 491,817 shares of the industrial products company’s stock after purchasing an additional 104,674 shares during the quarter. Gotham Asset Management LLC owned about 0.30% of Pentair worth $51,218,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Avanza Fonder AB boosted its holdings in shares of Pentair by 142.1% in the 4th quarter. Avanza Fonder AB now owns 38,940 shares of the industrial products company’s stock worth $4,055,000 after purchasing an additional 22,858 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Pentair by 13.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,638,855 shares of the industrial products company’s stock valued at $274,810,000 after buying an additional 305,166 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Pentair by 22.8% during the 4th quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock valued at $366,787,000 after buying an additional 647,162 shares in the last quarter. SG Americas Securities LLC boosted its stake in Pentair by 624.2% in the fourth quarter. SG Americas Securities LLC now owns 362,648 shares of the industrial products company’s stock worth $37,766,000 after buying an additional 312,574 shares in the last quarter. Finally, Clean Energy Transition LLP grew its position in Pentair by 26.7% during the third quarter. Clean Energy Transition LLP now owns 313,005 shares of the industrial products company’s stock valued at $34,668,000 after acquiring an additional 66,036 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

PNR has been the subject of a number of recent research reports. TD Cowen lowered their target price on Pentair from $90.00 to $75.00 and set a “sell” rating for the company in a research note on Wednesday, April 29th. Weiss Ratings cut shares of Pentair from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Bank of America decreased their target price on shares of Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Jefferies Financial Group reiterated a “buy” rating and set a $125.00 price target (down from $135.00) on shares of Pentair in a report on Tuesday, March 31st. Finally, Royal Bank Of Canada cut their price target on shares of Pentair from $107.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $107.86.

Pentair Stock Down 2.4%

NYSE:PNR opened at $73.38 on Thursday. Pentair plc has a fifty-two week low of $69.93 and a fifty-two week high of $113.95. The firm has a market cap of $11.86 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.27 and a beta of 1.05. The firm has a 50-day simple moving average of $79.27 and a two-hundred day simple moving average of $92.37. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.19 and a current ratio of 1.88.

Pentair (NYSE:PNR) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.17 by $0.05. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business posted $1.11 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. Analysts predict that Pentair plc will post 5.35 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 annualized dividend and a dividend yield of 1.5%. 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.