Fmr LLC Buys 396,581 Shares of Pentair plc (NYSE:PNR)

FMR LLC lifted its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,101,253 shares of the industrial products company's stock after purchasing an additional 396,581 shares during the period. FMR LLC owned 3.69% of Pentair worth $614,030,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PNR. 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. Norges Bank acquired a new stake in Pentair in the fourth quarter worth $36,568,000. Allianz Asset Management GmbH increased its stake in 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 purchasing an additional 357,523 shares in the last quarter. National Pension Service boosted its position in shares of Pentair by 726.4% during the 4th quarter. National Pension Service now owns 296,554 shares of the industrial products company's stock worth $29,845,000 after purchasing an additional 260,668 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in Pentair by 349.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 263,256 shares of the industrial products company's stock valued at $28,135,000 after buying an additional 204,683 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

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Analyst Ratings Changes

PNR has been the subject of a number of recent research reports. KeyCorp restated a "sector weight" rating and set a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Barclays decreased their price objective on Pentair from $120.00 to $110.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Northcoast Research upgraded Pentair from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. StockNews.com lowered Pentair from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Finally, Robert W. Baird upgraded shares of Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 target price for the company in a report on Tuesday, March 25th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $112.27.

Pentair Stock Performance

Pentair stock traded up $1.34 during trading on Monday, hitting $83.53. The stock had a trading volume of 240,719 shares, compared to its average volume of 1,492,824. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The stock's 50 day moving average is $89.54 and its two-hundred day moving average is $97.77. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, beating 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 firm had revenue of $972.90 million for the quarter, compared to analysts' expectations of $970.95 million. During the same quarter in the prior year, the firm earned $0.87 EPS. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, analysts predict that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Thursday, April 17th. Pentair's 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.