State Board of Administration of Florida Retirement System Increases Position in Pentair plc (NYSE:PNR)

State Board of Administration of Florida Retirement System raised its position in shares of Pentair plc (NYSE:PNR - Free Report) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,155 shares of the industrial products company's stock after acquiring an additional 8,966 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.11% of Pentair worth $15,820,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB boosted its position in Pentair by 191.8% during the fourth quarter. Nordea Investment Management AB now owns 70,424 shares of the industrial products company's stock valued at $5,122,000 after acquiring an additional 46,290 shares during the last quarter. UBS Group AG raised its holdings in shares of Pentair by 5.2% during the fourth quarter. UBS Group AG now owns 479,261 shares of the industrial products company's stock valued at $34,847,000 after purchasing an additional 23,494 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Pentair during the fourth quarter valued at about $2,908,000. Point72 Europe London LLP acquired a new position in shares of Pentair during the fourth quarter valued at about $921,000. Finally, Kodai Capital Management LP acquired a new position in shares of Pentair during the fourth quarter valued at about $173,280,000. Institutional investors own 92.37% of the company's stock.

Wall Street Analyst Weigh In

PNR has been the topic of several research reports. Royal Bank of Canada dropped their price objective on shares of Pentair from $103.00 to $99.00 and set an "outperform" rating on the stock in a report on Tuesday, June 25th. TD Cowen upped their price objective on shares of Pentair from $80.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Barclays upped their target price on shares of Pentair from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, April 24th. Stifel Nicolaus upped their target price on shares of Pentair from $94.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $91.00 target price on shares of Pentair in a report on Friday, March 22nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $91.29.

Insider Activity

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the transaction, the chief executive officer now directly owns 38,538 shares of the company's stock, valued at approximately $3,254,534.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company's stock.

Pentair Stock Down 0.9 %

NYSE:PNR traded down $0.72 on Friday, hitting $78.84. The stock had a trading volume of 2,148,753 shares, compared to its average volume of 1,599,076. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90. The stock has a market cap of $13.09 billion, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 1.43 and a beta of 1.21. Pentair plc has a 1 year low of $57.18 and a 1 year high of $85.84. The firm's fifty day simple moving average is $79.27 and its two-hundred day simple moving average is $78.14.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The company's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. Analysts predict that Pentair plc will post 4.21 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Friday, July 19th. Pentair's dividend payout ratio is currently 24.47%.

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.