Claro Advisors LLC Invests $974,000 in Pentair plc (NYSE:PNR)

Claro Advisors LLC purchased a new stake in shares of Pentair plc (NYSE:PNR) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,962 shares of the industrial products company’s stock, valued at approximately $974,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in shares of Pentair by 0.7% during the 2nd quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock valued at $225,779,000 after buying an additional 20,946 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Pentair by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock valued at $209,132,000 after acquiring an additional 53,787 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after acquiring an additional 996,325 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Pentair by 6.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock valued at $125,704,000 after purchasing an additional 105,724 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Pentair by 352.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after purchasing an additional 1,228,635 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Trading Down 0.0 %

Shares of PNR stock opened at $99.04 on Friday. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. Pentair plc has a 12-month low of $57.18 and a 12-month high of $99.95. The stock has a market capitalization of $16.39 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.77 and a beta of 1.20. The firm’s 50 day moving average is $91.36 and its 200 day moving average is $84.40.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. Research analysts expect that Pentair plc will post 4.26 earnings per share for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 23.29%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Barclays increased their target price on Pentair from $96.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Northcoast Research cut shares of Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, The Goldman Sachs Group raised their price objective on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.93.

Pentair Company Profile

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.