Bank of New York Mellon Corp Has $101.65 Million Stock Position in Pentair plc (NYSE:PNR)

Bank of New York Mellon Corp boosted its position in shares of Pentair plc (NYSE:PNR - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,010,068 shares of the industrial products company's stock after purchasing an additional 7,434 shares during the quarter. Bank of New York Mellon Corp owned 0.61% of Pentair worth $101,653,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PNR. Quarry LP raised its position in shares of Pentair by 105.5% during the third quarter. Quarry LP now owns 261 shares of the industrial products company's stock worth $26,000 after purchasing an additional 134 shares during the period. SJS Investment Consulting Inc. increased its stake in Pentair by 753.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company's stock worth $34,000 after purchasing an additional 294 shares in the last quarter. Eastern Bank raised its holdings in Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company's stock worth $51,000 after buying an additional 300 shares during the period. Friedenthal Financial bought a new position in Pentair in the fourth quarter valued at approximately $56,000. Finally, True Wealth Design LLC boosted its holdings in shares of Pentair by 4,450.0% in the third quarter. True Wealth Design LLC now owns 637 shares of the industrial products company's stock valued at $62,000 after buying an additional 623 shares during the period. Institutional investors and hedge funds own 92.37% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PNR shares. Royal Bank of Canada restated an "outperform" rating and set a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. Wolfe Research started coverage on shares of Pentair in a report on Tuesday, November 26th. They issued an "outperform" rating and a $125.00 price objective on the stock. Stifel Nicolaus reduced their target price on shares of Pentair from $126.00 to $125.00 and set a "buy" rating for the company in a report on Friday, January 24th. Citigroup lowered their price target on shares of Pentair from $126.00 to $119.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Finally, StockNews.com upgraded shares of Pentair from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Pentair presently has an average rating of "Moderate Buy" and an average target price of $111.25.

Pentair Stock Performance

PNR stock traded up $1.51 during midday trading on Wednesday, reaching $91.18. 1,857,448 shares of the company were exchanged, compared to its average volume of 1,400,782. The firm has a market capitalization of $15.03 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. 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 50-day moving average price of $99.07 and a two-hundred day moving average price of $98.63. Pentair plc has a one year low of $72.63 and a one year high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The firm had revenue of $972.90 million during the quarter, compared to the consensus estimate of $970.95 million. During the same quarter 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. Equities research analysts forecast 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. Investors of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair's dividend payout ratio is currently 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.