Eventide Asset Management LLC Has $34.03 Million Stock Position in Pentair plc $PNR

Eventide Asset Management LLC lowered its stake in Pentair plc (NYSE:PNR) by 17.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,280 shares of the industrial products company’s stock after selling 70,489 shares during the period. Eventide Asset Management LLC owned 0.20% of Pentair worth $34,026,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PNR. Sivia Capital Partners LLC acquired a new position in shares of Pentair during the second quarter worth $222,000. American Century Companies Inc. lifted its holdings in shares of Pentair by 5.8% during the second quarter. American Century Companies Inc. now owns 9,350 shares of the industrial products company’s stock worth $960,000 after purchasing an additional 513 shares during the period. Cerity Partners LLC lifted its holdings in shares of Pentair by 27.2% during the second quarter. Cerity Partners LLC now owns 53,959 shares of the industrial products company’s stock worth $5,539,000 after purchasing an additional 11,523 shares during the period. Sei Investments Co. lifted its holdings in shares of Pentair by 54.7% during the second quarter. Sei Investments Co. now owns 76,469 shares of the industrial products company’s stock worth $7,850,000 after purchasing an additional 27,053 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Pentair by 101.8% during the second quarter. Treasurer of the State of North Carolina now owns 338,368 shares of the industrial products company’s stock worth $34,737,000 after purchasing an additional 170,707 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PNR. 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. Robert W. Baird set a $110.00 price target on shares of Pentair in a report on Wednesday, April 29th. Stifel Nicolaus cut their price target on shares of Pentair from $110.00 to $103.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Bank of America cut their price target on shares of Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. Finally, Seaport Research Partners cut their price target on shares of Pentair from $130.00 to $125.00 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $107.86.

Pentair Stock Performance

PNR stock opened at $73.68 on Friday. The stock has a 50-day moving average price of $79.98 and a 200-day moving average price of $93.12. Pentair plc has a 1-year low of $69.93 and a 1-year high of $113.95. The company has a current ratio of 1.88, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51. The firm has a market cap of $11.91 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share for the quarter, topping 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 firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $1.11 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts expect that Pentair plc will post 5.35 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be given 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 dividend payout ratio (DPR) is 26.47%.

Pentair Company 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.