Longboard Asset Management LP Takes Position in Pentair plc (NYSE:PNR)

Longboard Asset Management LP bought a new position in Pentair plc (NYSE:PNR) in the fourth quarter, Holdings Channel reports. The firm bought 2,077 shares of the industrial products company’s stock, valued at approximately $209,000.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its stake in Pentair by 3.1% in the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after purchasing an additional 259,922 shares in the last quarter. FMR LLC lifted its stake in Pentair by 4.7% during the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after acquiring an additional 258,134 shares during the period. Geode Capital Management LLC lifted its stake in Pentair by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock valued at $389,800,000 after acquiring an additional 19,853 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Pentair by 11.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,489,715 shares of the industrial products company’s stock valued at $143,823,000 after acquiring an additional 158,433 shares during the period. Finally, Swedbank AB lifted its stake in Pentair by 17.9% during the 3rd quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock valued at $132,141,000 after acquiring an additional 205,000 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNR has been the subject of several research reports. KeyCorp restated a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Mizuho lifted their price objective on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Citigroup decreased their price objective on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, TD Cowen lifted their price objective on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $111.07.

Pentair Price Performance

Shares of NYSE PNR opened at $98.28 on Wednesday. The firm has a market cap of $16.24 billion, a PE ratio of 24.57, a PEG ratio of 1.65 and a beta of 1.20. The firm has a fifty day moving average of $103.51 and a 200 day moving average of $97.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. Pentair plc has a one year low of $72.03 and a one year high of $110.71.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.02 by $0.06. The company had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. As a group, research analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, January 24th. This is a positive change from Pentair’s previous quarterly dividend of $0.23. Pentair’s payout ratio is presently 25.00%.

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.