Harvest Fund Management Co. Ltd Purchases 6,608 Shares of Pentair plc (NYSE:PNR)

Harvest Fund Management Co. Ltd grew its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 201.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,891 shares of the industrial products company's stock after acquiring an additional 6,608 shares during the period. Harvest Fund Management Co. Ltd's holdings in Pentair were worth $995,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. CIBC Asset Management Inc lifted its holdings in Pentair by 9.3% during the 3rd quarter. CIBC Asset Management Inc now owns 19,329 shares of the industrial products company's stock worth $1,890,000 after purchasing an additional 1,640 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Pentair by 4.1% in the third quarter. Natixis Advisors LLC now owns 103,110 shares of the industrial products company's stock valued at $10,083,000 after acquiring an additional 4,074 shares during the period. Claro Advisors LLC purchased a new position in Pentair during the third quarter valued at approximately $249,000. Swiss National Bank increased its holdings in Pentair by 0.7% during the 3rd quarter. Swiss National Bank now owns 492,787 shares of the industrial products company's stock worth $48,190,000 after acquiring an additional 3,300 shares during the period. Finally, Pathstone Holdings LLC lifted its stake in Pentair by 47.4% in the 3rd quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company's stock worth $1,944,000 after purchasing an additional 6,391 shares in the last quarter. 92.37% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PNR shares. Barclays upped their price target on shares of Pentair from $108.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. KeyCorp restated a "sector weight" rating and issued a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Wolfe Research began coverage on Pentair in a research report on Tuesday, November 26th. They set an "outperform" rating and a $125.00 price target for the company. Stifel Nicolaus decreased their price objective on shares of Pentair from $126.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Finally, Citigroup dropped their target price on shares of Pentair from $126.00 to $119.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Pentair presently has an average rating of "Moderate Buy" and an average target price of $112.93.

Pentair Trading Up 2.8 %

Shares of NYSE:PNR traded up $2.43 on Monday, reaching $89.85. 1,226,443 shares of the company traded hands, compared to its average volume of 1,370,220. The stock has a market capitalization of $14.81 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. The business's 50-day simple moving average is $95.72 and its 200 day simple moving average is $98.74. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Pentair plc has a 52 week low of $72.63 and a 52 week high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $970.95 million. During the same period last year, the company earned $0.87 EPS. Pentair's revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

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 issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.11%. Pentair's dividend payout ratio is presently 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.