Cibc World Markets Corp Increases Stake in Pentair plc (NYSE:PNR)

Cibc World Markets Corp boosted its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,072 shares of the industrial products company's stock after purchasing an additional 3,537 shares during the quarter. Cibc World Markets Corp's holdings in Pentair were worth $2,624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PNR. Creative Financial Designs Inc. ADV lifted its holdings in shares of Pentair by 8.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 5,746 shares of the industrial products company's stock valued at $578,000 after acquiring an additional 425 shares during the last quarter. Gitterman Wealth Management LLC increased its position in shares of Pentair by 6.6% during the 4th quarter. Gitterman Wealth Management LLC now owns 4,724 shares of the industrial products company's stock valued at $475,000 after purchasing an additional 293 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in Pentair by 4.1% during the 4th quarter. Frank Rimerman Advisors LLC now owns 7,007 shares of the industrial products company's stock valued at $705,000 after buying an additional 274 shares during the period. Intact Investment Management Inc. bought a new position in Pentair during the fourth quarter valued at $60,000. Finally, LBP AM SA purchased a new stake in shares of Pentair in the fourth quarter valued at $7,494,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts recently commented on PNR shares. StockNews.com upgraded shares of Pentair from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. 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 note on Tuesday. Citigroup decreased their price target on Pentair from $126.00 to $119.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Barclays upped their price objective on Pentair from $108.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Finally, Wolfe Research started coverage on Pentair in a research report on Tuesday, November 26th. They set an "outperform" rating and a $125.00 target price for the company. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $112.93.

Pentair Stock Up 1.4 %

NYSE PNR traded up $1.26 during trading on Tuesday, reaching $91.11. 1,556,938 shares of the company's stock traded hands, compared to its average volume of 1,369,937. The firm has a market cap of $15.02 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The company's 50 day simple moving average is $95.54 and its two-hundred day simple moving average is $98.77.

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

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. Pentair's dividend payout ratio 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.