Neuberger Berman Group LLC Buys 3,538 Shares of Pentair plc (NYSE:PNR)

Neuberger Berman Group LLC raised its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 17.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,637 shares of the industrial products company's stock after purchasing an additional 3,538 shares during the quarter. Neuberger Berman Group LLC's holdings in Pentair were worth $2,379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Pentair by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company's stock valued at $2,034,575,000 after purchasing an additional 148,031 shares in the last quarter. FMR LLC lifted its holdings in shares of Pentair by 7.0% in the fourth quarter. FMR LLC now owns 6,101,253 shares of the industrial products company's stock worth $614,030,000 after acquiring an additional 396,581 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Pentair by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 4,086,763 shares of the industrial products company's stock valued at $410,240,000 after purchasing an additional 87,244 shares during the last quarter. Bessemer Group Inc. lifted its stake in 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 last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Pentair by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company's stock worth $101,653,000 after buying an additional 7,434 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

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Pentair Stock Performance

Shares of PNR stock traded down $0.51 during trading hours on Tuesday, hitting $82.28. 985,584 shares of the company were exchanged, compared to its average volume of 1,496,582. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 1.87 and a beta of 1.13. The firm has a fifty day simple moving average of $88.90 and a 200 day simple moving average of $97.57. 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 issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (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 firm had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. During the same period in the previous year, the company posted $0.87 earnings per share. The business's revenue was down 1.2% on a year-over-year basis. Research analysts predict that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair's dividend payout ratio is presently 26.74%.

Analyst Ratings Changes

Several analysts have recently weighed in on PNR shares. Robert W. Baird upgraded Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 price target on the stock in a report on Tuesday, March 25th. Barclays cut their price target on shares of Pentair from $120.00 to $110.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. Stifel Nicolaus cut their target price on Pentair from $126.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Citigroup reduced their price objective on shares of Pentair from $118.00 to $98.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Baird R W raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. Four 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $110.87.

About Pentair

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.