Teacher Retirement System of Texas Increases Stock Position in Pentair plc (NYSE:PNR)

Teacher Retirement System of Texas grew its position in shares of Pentair plc (NYSE:PNR - Free Report) by 219.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 604,758 shares of the industrial products company's stock after buying an additional 415,163 shares during the quarter. Teacher Retirement System of Texas owned 0.37% of Pentair worth $60,863,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PNR. Quarry LP raised its position in Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company's stock worth $26,000 after acquiring an additional 134 shares in the last quarter. SJS Investment Consulting Inc. boosted its holdings in Pentair by 753.8% during the fourth 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 position in Pentair by 144.9% during the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company's stock worth $51,000 after buying an additional 300 shares during the period. Friedenthal Financial purchased a new stake in shares of Pentair during the 4th quarter worth approximately $56,000. Finally, Intact Investment Management Inc. purchased a new position in Pentair in the 4th quarter valued at approximately $60,000. Institutional investors and hedge funds own 92.37% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PNR. KeyCorp reiterated a "sector weight" rating and issued a $115.00 price objective on shares of Pentair in a research report on Monday, January 6th. Wolfe Research began coverage on shares of Pentair in a research report on Tuesday, November 26th. They issued an "outperform" rating and a $125.00 price target on the stock. Citigroup dropped their price objective on shares of Pentair from $126.00 to $119.00 and set a "buy" rating for the company in a research note on Monday, January 13th. StockNews.com raised Pentair from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Finally, Stifel Nicolaus dropped their price target on Pentair from $126.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, January 24th. 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 company. According to data from MarketBeat.com, Pentair has a consensus rating of "Moderate Buy" and a consensus target price of $112.93.

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Pentair Trading Up 1.4 %

PNR stock traded up $1.26 during trading on Tuesday, reaching $91.11. 1,556,938 shares of the stock traded hands, compared to its average volume of 1,369,937. The business's 50 day moving average price is $95.54 and its 200-day moving average price is $98.77. The firm has a market capitalization of $15.02 billion, a PE ratio of 24.36, a P/E/G ratio of 1.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. Pentair plc has a 52-week low of $72.63 and a 52-week high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (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 business had revenue of $972.90 million during the quarter, compared to analysts' expectations of $970.95 million. During the same quarter in the previous year, the business earned $0.87 EPS. The company's revenue for the quarter was down 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, April 17th. Pentair's payout ratio is 26.74%.

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.