Korea Investment CORP Raises Stock Position in Pentair plc (NYSE:PNR)

Korea Investment CORP raised its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 11.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 202,358 shares of the industrial products company's stock after purchasing an additional 21,200 shares during the period. Korea Investment CORP owned 0.12% of Pentair worth $20,365,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in Pentair by 11.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 96,087 shares of the industrial products company's stock worth $9,670,000 after buying an additional 9,761 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Pentair by 202.8% in the 4th quarter. Prudential Financial Inc. now owns 171,173 shares of the industrial products company's stock worth $17,227,000 after acquiring an additional 114,634 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Pentair by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company's stock worth $2,034,575,000 after purchasing an additional 148,031 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of Pentair during the 4th quarter worth $741,000. Finally, LPL Financial LLC boosted its position in Pentair by 60.7% during the fourth quarter. LPL Financial LLC now owns 103,563 shares of the industrial products company's stock valued at $10,423,000 after purchasing an additional 39,134 shares in the last quarter. Institutional investors own 92.37% of the company's stock.

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Analysts Set New Price Targets

PNR has been the subject of several analyst reports. Stifel Nicolaus decreased their price target on shares of Pentair from $126.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, January 24th. Citigroup decreased 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. StockNews.com raised Pentair from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Baird R W raised Pentair from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 25th. Finally, Robert W. Baird raised Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 target price on the stock in a research report on Tuesday, March 25th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $112.27.

Pentair Stock Performance

Shares of Pentair stock traded down $7.15 on Thursday, reaching $81.94. 432,838 shares of the stock were exchanged, compared to its average volume of 1,459,904. The business has a 50 day moving average price of $93.57 and a two-hundred day moving average price of $98.73. The firm has a market capitalization of $13.51 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 1.87 and a beta of 1.23. Pentair plc has a twelve month low of $72.63 and a twelve month high of $110.71. 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 (NYSE:PNR - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $972.90 million for the quarter, compared to the consensus estimate of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The business's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. Analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, April 17th. Pentair's dividend payout ratio is presently 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.