Geode Capital Management LLC Grows Stock Position in Pentair plc (NYSE:PNR)

Geode Capital Management LLC grew its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,086,763 shares of the industrial products company's stock after acquiring an additional 87,244 shares during the quarter. Geode Capital Management LLC owned about 2.47% of Pentair worth $410,240,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Quarry LP raised its holdings in Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company's stock worth $26,000 after acquiring an additional 134 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company's stock worth $34,000 after buying an additional 294 shares in the last quarter. Eastern Bank grew its stake in shares of Pentair by 144.9% in the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company's stock worth $51,000 after acquiring an additional 300 shares during the period. Friedenthal Financial purchased a new position in shares of Pentair in the fourth quarter worth approximately $56,000. Finally, Intact Investment Management Inc. bought a new position in shares of Pentair in the fourth quarter worth about $60,000. Hedge funds and other institutional investors own 92.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PNR. Stifel Nicolaus decreased their price target on shares of Pentair from $126.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Northcoast Research raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. StockNews.com downgraded shares of Pentair from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Robert W. Baird raised Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 price objective on the stock in a report on Tuesday, March 25th. Finally, Barclays decreased their target price on Pentair from $120.00 to $110.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Four equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $112.27.

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Pentair Trading Down 5.3 %

Shares of Pentair stock traded down $4.45 during mid-day trading on Thursday, hitting $79.58. The stock had a trading volume of 427,895 shares, compared to its average volume of 1,581,751. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71. The firm has a market cap of $13.12 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13. The firm has a 50-day moving average of $90.30 and a two-hundred day moving average of $97.98. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings data 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 net margin of 15.32% and a return on equity of 20.94%. 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 firm earned $0.87 EPS. Pentair's revenue was down 1.2% on a year-over-year basis. Sell-side analysts forecast that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Thursday, April 17th. Pentair's dividend payout ratio (DPR) is 26.74%.

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.