Charter Oak Advisors LP Buys New Stake in Pentair plc (NYSE:PNR)

Charter Oak Advisors LP acquired a new position in shares of Pentair plc (NYSE:PNR - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 132,353 shares of the industrial products company's stock, valued at approximately $13,320,000. Pentair comprises 7.6% of Charter Oak Advisors LP's investment portfolio, making the stock its 4th biggest position. Charter Oak Advisors LP owned approximately 0.08% of Pentair as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas increased its stake in 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 valued at $60,863,000 after purchasing an additional 415,163 shares in the last quarter. FMR LLC lifted its holdings in Pentair by 7.0% in the fourth 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 purchased a new stake in Pentair in the 4th quarter worth approximately $36,568,000. Allianz Asset Management GmbH increased its holdings in shares of Pentair by 67.4% during the 4th quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company's stock valued at $89,390,000 after purchasing an additional 357,523 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Pentair by 37.0% in the 4th quarter. Bessemer Group Inc. now owns 1,283,164 shares of the industrial products company's stock valued at $129,137,000 after purchasing an additional 346,843 shares during the period. Institutional investors own 92.37% of the company's stock.

Pentair Trading Down 0.6 %

Shares of PNR traded down $0.45 during trading on Friday, reaching $80.27. 1,473,277 shares of the company traded hands, compared to its average volume of 1,503,119. The stock has a 50-day simple moving average of $87.81 and a 200-day simple moving average of $97.22. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a twelve month low of $72.63 and a twelve month high of $110.71. The stock has a market cap of $13.24 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13.

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

Pentair Announces Dividend

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 1.25%. The ex-dividend date is Thursday, April 17th. Pentair's payout ratio is currently 26.74%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PNR. Citigroup cut their price target on Pentair from $118.00 to $98.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Baird R W raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. KeyCorp reissued a "sector weight" rating and set a $115.00 target price on shares of Pentair in a report on Monday, January 6th. Robert W. Baird raised 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. Finally, Northcoast Research upgraded shares of 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 given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $110.00.

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.