Thurston Springer Miller Herd & Titak Inc. Purchases 4,085 Shares of Pentair plc (NYSE:PNR)

Thurston Springer Miller Herd & Titak Inc. raised its stake in Pentair plc (NYSE:PNR - Free Report) by 72.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,754 shares of the industrial products company's stock after acquiring an additional 4,085 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Pentair were worth $982,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. State Street Corp lifted its position in Pentair by 3.1% during the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company's stock worth $856,257,000 after purchasing an additional 259,922 shares during the period. FMR LLC raised its position in shares of Pentair by 4.7% in the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company's stock valued at $557,860,000 after buying an additional 258,134 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 19,853 shares during the period. Millennium Management LLC boosted its position in shares of Pentair by 0.7% during the 2nd quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company's stock worth $225,779,000 after acquiring an additional 20,946 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Pentair by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company's stock valued at $209,132,000 after acquiring an additional 53,787 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PNR has been the subject of several recent analyst reports. TD Cowen upped their target price on Pentair from $95.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group lifted their target price on Pentair from $93.00 to $103.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Citigroup dropped their target price on shares of Pentair from $126.00 to $119.00 and set a "buy" rating for the company in a report on Monday. Wolfe Research began coverage on shares of Pentair in a report on Tuesday, November 26th. They set an "outperform" rating and a $125.00 price target on the stock. Finally, Oppenheimer increased their price objective on shares of Pentair from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Pentair has a consensus rating of "Moderate Buy" and an average price target of $111.13.

Pentair Trading Up 0.3 %

Shares of PNR stock traded up $0.29 during mid-day trading on Thursday, hitting $101.86. The company's stock had a trading volume of 27,960 shares, compared to its average volume of 985,684. The company has a market cap of $16.83 billion, a PE ratio of 25.47, a P/E/G ratio of 1.55 and a beta of 1.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The company's fifty day simple moving average is $104.30 and its 200-day simple moving average is $94.46. Pentair plc has a 52 week low of $69.42 and a 52 week high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same period in the previous year, the company posted $0.94 earnings per share. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities research analysts expect that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.00 annualized dividend and a dividend yield of 0.98%. This is an increase from Pentair's previous quarterly dividend of $0.23. Pentair's dividend payout ratio is currently 23.00%.

Insiders Place Their Bets

In other news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the sale, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.28% of the stock is currently owned by insiders.

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.