42,769 Shares in Pentair plc (NYSE:PNR) Bought by Banque Pictet & Cie SA

Banque Pictet & Cie SA bought a new position in shares of Pentair plc (NYSE:PNR) in the fourth quarter, HoldingsChannel reports. The fund bought 42,769 shares of the industrial products company’s stock, valued at approximately $4,304,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Richardson Financial Services Inc. grew its stake in shares of Pentair by 16.1% during the fourth quarter. Richardson Financial Services Inc. now owns 916 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 127 shares in the last quarter. Inspire Advisors LLC grew its stake in shares of Pentair by 1.6% during the third quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock worth $794,000 after purchasing an additional 130 shares in the last quarter. Quarry LP grew its stake in shares of Pentair by 105.5% during the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares in the last quarter. Annex Advisory Services LLC boosted its stake in Pentair by 2.9% in the fourth quarter. Annex Advisory Services LLC now owns 5,369 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 151 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Pentair by 14.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,337 shares of the industrial products company’s stock valued at $131,000 after acquiring an additional 167 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. KeyCorp restated a “sector weight” rating and issued a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. JPMorgan Chase & Co. upped their target price on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Wolfe Research assumed coverage on shares of Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price for the company. Finally, Robert W. Baird upped their target price on shares of Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.25.

Pentair Trading Down 0.5 %

Shares of Pentair stock opened at $96.71 on Friday. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.46. The stock has a market cap of $15.98 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. The company has a 50-day moving average of $101.81 and a two-hundred day moving average of $97.64.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The company had revenue of $972.90 million during the quarter, compared to analysts’ expectations of $970.95 million. During the same period last year, the company posted $0.87 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, research analysts anticipate that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were given a $0.25 dividend. The ex-dividend date was Friday, January 24th. This is a positive change from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Pentair’s dividend payout ratio is currently 26.74%.

About Pentair

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.