Lighthouse Investment Partners LLC Raises Position in Pentair plc (NYSE:PNR)

Lighthouse Investment Partners LLC raised its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 9.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,600 shares of the industrial products company's stock after acquiring an additional 9,600 shares during the period. Lighthouse Investment Partners LLC owned about 0.07% of Pentair worth $8,403,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Pentair during the fourth quarter worth $2,908,000. State Board of Administration of Florida Retirement System grew its position in Pentair by 5.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company's stock valued at $15,820,000 after buying an additional 8,966 shares during the period. Point72 Europe London LLP bought a new stake in Pentair in the fourth quarter worth about $921,000. Kodai Capital Management LP purchased a new stake in shares of Pentair during the 4th quarter worth approximately $173,280,000. Finally, Cetera Investment Advisers raised its holdings in shares of Pentair by 222.8% in the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company's stock worth $4,328,000 after purchasing an additional 34,959 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Trading Down 0.2 %

Shares of NYSE PNR traded down $0.19 during mid-day trading on Friday, hitting $97.34. The stock had a trading volume of 396,260 shares, compared to its average volume of 1,543,246. The firm has a market cap of $16.11 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65. The business has a 50 day moving average price of $87.25 and a two-hundred day moving average price of $82.80. Pentair plc has a 1 year low of $57.18 and a 1 year high of $98.23.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business earned $1.03 EPS. The company's revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities analysts anticipate that Pentair plc will post 4.25 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Friday, October 18th. Pentair's payout ratio is presently 24.47%.

Wall Street Analysts Forecast Growth

PNR has been the topic of several research reports. Oppenheimer boosted their target price on Pentair from $92.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Pentair from $90.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of Pentair from a "hold" rating to a "buy" rating in a research note on Wednesday, July 24th. KeyCorp upped their price target on shares of Pentair from $92.00 to $97.00 and gave the company an "overweight" rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Pentair from $99.00 to $101.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $92.87.

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.