Fisher Asset Management LLC Boosts Stake in Pentair plc (NYSE:PNR)

Fisher Asset Management LLC increased its stake in Pentair plc (NYSE:PNR - Free Report) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 146,637 shares of the industrial products company's stock after acquiring an additional 5,930 shares during the period. Fisher Asset Management LLC owned approximately 0.09% of Pentair worth $14,758,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Quarry LP raised its position in shares of Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company's stock worth $26,000 after buying an additional 134 shares during the period. SJS Investment Consulting Inc. grew its holdings in shares of 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 during the period. Eastern Bank increased its position 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 purchasing an additional 300 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Pentair in the fourth quarter valued at approximately $55,000. Finally, Friedenthal Financial acquired a new position in Pentair during the fourth quarter valued at approximately $56,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PNR has been the topic of a number of recent research reports. Wolfe Research started coverage on Pentair in a research note on Tuesday, November 26th. They set an "outperform" rating and a $125.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $115.00 target price on shares of Pentair in a research report on Thursday, November 21st. Robert W. Baird raised their price target on shares of Pentair from $106.00 to $114.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Barclays boosted their price target on Pentair from $108.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Finally, StockNews.com raised Pentair from a "hold" rating to a "buy" rating in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Pentair currently has a consensus rating of "Moderate Buy" and an average price target of $111.25.

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Pentair Price Performance

PNR stock traded down $1.67 during trading on Friday, reaching $88.15. 3,004,195 shares of the company were exchanged, compared to its average volume of 1,437,846. 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 twelve month low of $72.63 and a twelve month high of $110.71. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 1.87 and a beta of 1.23. The company has a 50-day moving average of $98.59 and a two-hundred day moving average of $98.52.

Pentair (NYSE:PNR - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, beating 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 prior year, the business posted $0.87 earnings per share. The firm's revenue was down 1.2% on a year-over-year basis. As a group, equities analysts predict that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 1.13%. Pentair's dividend payout ratio is currently 26.74%.

Pentair Company 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.