Allstate Corp Makes New Investment in Pentair plc (NYSE:PNR)

Allstate Corp acquired a new position in Pentair plc (NYSE:PNR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,876 shares of the industrial products company's stock, valued at approximately $491,000.

Other institutional investors have also added to or reduced their stakes in the company. Moody National Bank Trust Division bought a new stake in shares of Pentair in the 4th quarter valued at $989,000. Geode Capital Management LLC boosted its position in Pentair by 0.5% during the third 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 last quarter. Smartleaf Asset Management LLC grew its holdings in Pentair by 55.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 809 shares of the industrial products company's stock worth $81,000 after acquiring an additional 287 shares during the period. Stratos Wealth Partners LTD. bought a new position in shares of Pentair in the 4th quarter worth about $289,000. Finally, Park Avenue Securities LLC boosted its position in shares of Pentair by 22.2% during the 4th quarter. Park Avenue Securities LLC now owns 23,712 shares of the industrial products company's stock valued at $2,386,000 after purchasing an additional 4,308 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

Pentair Stock Performance

Shares of PNR traded down $2.88 during mid-day trading on Friday, hitting $78.66. The stock had a trading volume of 2,765,131 shares, compared to its average volume of 1,471,745. Pentair plc has a 52 week low of $72.63 and a 52 week high of $110.71. 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 business has a fifty day moving average price of $93.11 and a 200-day moving average price of $98.61. The firm has a market cap of $12.96 billion, a P/E ratio of 21.03, a PEG ratio of 1.87 and a beta of 1.13.

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

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair's dividend payout ratio (DPR) is presently 26.74%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PNR shares. Stifel Nicolaus reduced their price objective on shares of Pentair from $126.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, January 24th. Baird R W raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 25th. StockNews.com downgraded Pentair from a "buy" rating to a "hold" rating in a research note on Thursday. Barclays lowered their price objective on Pentair from $120.00 to $110.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Finally, Northcoast Research raised Pentair from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Pentair presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.27.

Pentair 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.