Norges Bank Takes $36.57 Million Position in Pentair plc (NYSE:PNR)

Norges Bank acquired a new stake in shares of Pentair plc (NYSE:PNR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 363,351 shares of the industrial products company's stock, valued at approximately $36,568,000. Norges Bank owned approximately 0.22% of Pentair as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Blair William & Co. IL acquired a new position in shares of Pentair in the 4th quarter worth approximately $285,000. Caisse Des Depots ET Consignations bought a new stake in shares of Pentair in the 4th quarter valued at approximately $1,696,000. NEOS Investment Management LLC increased its holdings in shares of Pentair by 25.6% in the 4th quarter. NEOS Investment Management LLC now owns 6,074 shares of the industrial products company's stock valued at $611,000 after acquiring an additional 1,238 shares during the last quarter. Elo Mutual Pension Insurance Co increased its holdings in shares of Pentair by 16.6% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 17,198 shares of the industrial products company's stock valued at $1,731,000 after acquiring an additional 2,451 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Pentair by 8.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 328,922 shares of the industrial products company's stock valued at $33,241,000 after acquiring an additional 24,244 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on PNR shares. Robert W. Baird upgraded Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 price objective for the company in a research note on Tuesday, March 25th. Stifel Nicolaus lowered their price objective on Pentair from $126.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, January 24th. KeyCorp reissued a "sector weight" rating and issued a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Northcoast Research raised Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Baird R W raised Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $112.27.

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Pentair Price Performance

Shares of Pentair stock traded down $2.01 during trading on Thursday, hitting $82.02. The stock had a trading volume of 271,104 shares, compared to its average volume of 1,484,300. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The firm has a market cap of $13.52 billion, a P/E ratio of 21.93, a PEG ratio of 1.87 and a beta of 1.13. The business has a fifty day moving average of $90.30 and a two-hundred day moving average of $97.98. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.06. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The business had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The company's revenue was down 1.2% on a year-over-year basis. On average, sell-side analysts expect that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, April 17th. Pentair's dividend payout ratio is 26.74%.

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.