Raymond James Financial Inc. Acquires New Shares in Pentair plc (NYSE:PNR)

Raymond James Financial Inc. purchased a new stake in shares of Pentair plc (NYSE:PNR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 148,932 shares of the industrial products company's stock, valued at approximately $14,989,000. Raymond James Financial Inc. owned about 0.09% of Pentair as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNR. Apollon Wealth Management LLC bought a new stake in Pentair during the 3rd quarter valued at $256,000. CIBC Asset Management Inc raised its holdings in Pentair by 9.3% during the 3rd quarter. CIBC Asset Management Inc now owns 19,329 shares of the industrial products company's stock valued at $1,890,000 after buying an additional 1,640 shares during the last quarter. Natixis Advisors LLC raised its holdings in Pentair by 4.1% during the 3rd quarter. Natixis Advisors LLC now owns 103,110 shares of the industrial products company's stock valued at $10,083,000 after buying an additional 4,074 shares during the last quarter. Claro Advisors LLC bought a new stake in Pentair during the 3rd quarter valued at $249,000. Finally, Swiss National Bank increased its position in Pentair by 0.7% during the 3rd quarter. Swiss National Bank now owns 492,787 shares of the industrial products company's stock valued at $48,190,000 after purchasing an additional 3,300 shares during the period. 92.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PNR shares. Barclays boosted their price objective on shares of Pentair from $108.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Northcoast Research raised shares of Pentair from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Wolfe Research started coverage on shares of Pentair in a research report on Tuesday, November 26th. They set an "outperform" rating and a $125.00 price objective on the stock. KeyCorp reissued a "sector weight" rating and set a $115.00 price objective on shares of Pentair in a research report on Monday, January 6th. Finally, StockNews.com raised shares of Pentair from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Pentair has a consensus rating of "Moderate Buy" and an average target price of $112.93.

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Pentair Stock Down 1.0 %

Shares of PNR traded down $0.87 during mid-day trading on Friday, reaching $87.44. The company had a trading volume of 3,262,858 shares, compared to its average volume of 1,371,725. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The firm has a 50-day moving average price of $95.72 and a 200 day moving average price of $98.56. Pentair plc has a 52 week low of $72.63 and a 52 week high of $110.71. The company has a market capitalization of $14.41 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23.

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

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 1.14%. Pentair's dividend payout ratio (DPR) is presently 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.