Franklin Resources Inc. Has $6.91 Million Stake in Pentair plc (NYSE:PNR)

Franklin Resources Inc. boosted its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 112.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,660 shares of the industrial products company's stock after acquiring an additional 36,411 shares during the period. Franklin Resources Inc.'s holdings in Pentair were worth $6,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division bought a new position in shares of Pentair during the 4th quarter valued at about $989,000. Geode Capital Management LLC raised its holdings in Pentair by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company's stock worth $389,800,000 after buying an additional 19,853 shares during the period. Smartleaf Asset Management LLC lifted its stake in Pentair by 55.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 809 shares of the industrial products company's stock valued at $81,000 after buying an additional 287 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Pentair in the fourth quarter valued at approximately $289,000. Finally, Norges Bank bought a new stake in shares of Pentair during the fourth quarter worth $36,568,000. 92.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. StockNews.com cut Pentair from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd. KeyCorp reissued a "sector weight" rating and set a $115.00 price target on shares of Pentair in a research report on Monday, January 6th. Northcoast Research upgraded Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Barclays decreased their target price on shares of Pentair from $120.00 to $110.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Finally, Robert W. Baird upgraded shares of Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 price target for the company in a research note on Tuesday, March 25th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $110.87.

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Pentair Stock Performance

PNR stock traded up $0.67 during trading hours on Tuesday, hitting $83.46. 134,210 shares of the stock were exchanged, compared to its average volume of 1,492,225. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. 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 firm has a market capitalization of $13.77 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.87 and a beta of 1.13. The company has a 50-day simple moving average of $89.22 and a two-hundred day simple moving average of $97.67.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The firm had revenue of $972.90 million during the quarter, compared to the consensus estimate of $970.95 million. During the same quarter in the previous year, the firm posted $0.87 EPS. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be paid 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 yield of 1.20%. Pentair's dividend payout ratio (DPR) 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.