APG Asset Management N.V. Acquires New Position in Pentair plc (NYSE:PNR)

APG Asset Management N.V. acquired a new position in shares of Pentair plc (NYSE:PNR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 89,200 shares of the industrial products company's stock, valued at approximately $8,669,000. APG Asset Management N.V. owned about 0.05% of Pentair at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Teacher Retirement System of Texas grew its position in shares of Pentair by 219.0% during the 4th quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company's stock worth $60,863,000 after buying an additional 415,163 shares during the period. FMR LLC lifted its stake in Pentair by 7.0% during the 4th quarter. FMR LLC now owns 6,101,253 shares of the industrial products company's stock valued at $614,030,000 after acquiring an additional 396,581 shares during the period. Norges Bank bought a new stake in Pentair during the 4th quarter valued at approximately $36,568,000. Allianz Asset Management GmbH raised its holdings in shares of Pentair by 67.4% in the fourth quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company's stock valued at $89,390,000 after acquiring an additional 357,523 shares in the last quarter. Finally, National Pension Service raised its holdings in shares of Pentair by 726.4% in the fourth quarter. National Pension Service now owns 296,554 shares of the industrial products company's stock worth $29,845,000 after buying an additional 260,668 shares during the last quarter. Institutional investors own 92.37% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have recently commented on PNR. Citigroup lowered their price objective on shares of Pentair from $118.00 to $98.00 and set a "buy" rating for the company in a research note on Monday. Stifel Nicolaus cut their price target on Pentair from $125.00 to $102.00 and set a "buy" rating on the stock in a report on Wednesday. Northcoast Research upgraded Pentair from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. KeyCorp reiterated a "sector weight" rating and issued a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Finally, Robert W. Baird raised Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 price target on the stock in a research note on Tuesday, March 25th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $110.00.

Pentair Stock Performance

Shares of NYSE:PNR traded down $1.40 during midday trading on Wednesday, hitting $80.91. The company had a trading volume of 382,240 shares, compared to its average volume of 1,492,484. The company has a market cap of $13.35 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.87 and a beta of 1.13. The company has a fifty day moving average of $88.90 and a two-hundred day moving average of $97.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $970.95 million. During the same period in the previous year, the firm posted $0.87 EPS. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities research analysts expect that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair's dividend payout ratio is presently 26.74%.

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.