Canada Pension Plan Investment Board Purchases 5,800 Shares of Pentair plc (NYSE:PNR)

Canada Pension Plan Investment Board grew its position in shares of Pentair plc (NYSE:PNR - Free Report) by 34.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,524 shares of the industrial products company's stock after buying an additional 5,800 shares during the period. Canada Pension Plan Investment Board's holdings in Pentair were worth $2,267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PNR. Charter Oak Advisors LP bought a new stake in shares of Pentair during the 4th quarter worth approximately $13,320,000. Bridgewater Associates LP acquired a new position in Pentair during the fourth quarter valued at approximately $239,000. Guggenheim Capital LLC lifted its stake in Pentair by 15.2% during the fourth quarter. Guggenheim Capital LLC now owns 2,734 shares of the industrial products company's stock worth $275,000 after purchasing an additional 360 shares during the last quarter. Mariner LLC boosted its holdings in shares of Pentair by 0.6% in the 4th quarter. Mariner LLC now owns 40,691 shares of the industrial products company's stock valued at $4,095,000 after purchasing an additional 231 shares in the last quarter. Finally, Optimize Financial Inc bought a new position in shares of Pentair in the 4th quarter valued at $243,000. Institutional investors and hedge funds own 92.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PNR. Barclays boosted their target price on Pentair from $110.00 to $111.00 and gave the stock an "overweight" rating in a research note on Wednesday. Citigroup dropped 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, April 14th. KeyCorp reaffirmed a "sector weight" rating and set a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Baird R W raised Pentair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 25th. Finally, The Goldman Sachs Group set a $95.00 target price on Pentair and gave the stock a "neutral" rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.64.

Pentair Stock Performance

Shares of PNR stock opened at $87.77 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The company has a market capitalization of $14.48 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13. Pentair plc has a one year low of $72.63 and a one year high of $110.71. The company's 50-day moving average is $87.03 and its 200 day moving average is $96.98.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.10. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $988.38 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. During the same period in the prior year, the company posted $0.94 earnings per share. Sell-side analysts expect that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders 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 yield of 1.14%. 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.

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