Commonwealth Equity Services LLC Purchases 5,931 Shares of Pentair plc (NYSE:PNR)

Commonwealth Equity Services LLC increased its position in Pentair plc (NYSE:PNR – Get Rating) by 20.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,525 shares of the industrial products company’s stock after purchasing an additional 5,931 shares during the period. Commonwealth Equity Services LLC’s holdings in Pentair were worth $1,552,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PNR. Eisler Capital UK Ltd. bought a new position in Pentair in the 3rd quarter worth about $27,000. AdvisorNet Financial Inc raised its position in Pentair by 68.6% in the 4th quarter. AdvisorNet Financial Inc now owns 590 shares of the industrial products company’s stock worth $27,000 after buying an additional 240 shares during the last quarter. TCI Wealth Advisors Inc. raised its position in Pentair by 162.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 752 shares of the industrial products company’s stock worth $31,000 after buying an additional 465 shares during the last quarter. Ancora Advisors LLC purchased a new position in Pentair in the 1st quarter worth about $56,000. Finally, Quadrant Capital Group LLC increased its position in shares of Pentair by 88.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,397 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 654 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.

Pentair Stock Performance

Shares of Pentair stock opened at $59.45 on Friday. The firm has a market cap of $9.81 billion, a P/E ratio of 19.95, a P/E/G ratio of 1.83 and a beta of 1.12. The company has a current ratio of 1.76, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Pentair plc has a 12 month low of $38.55 and a 12 month high of $60.85. The stock’s fifty day moving average price is $54.61 and its 200-day moving average price is $50.96.

Pentair (NYSE:PNR – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The industrial products company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.77 by $0.14. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $996.02 million. Pentair had a return on equity of 23.09% and a net margin of 11.88%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. On average, equities research analysts expect that Pentair plc will post 3.65 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Shareholders of record on Friday, July 21st will be paid a $0.22 dividend. The ex-dividend date is Thursday, July 20th. This represents a $0.88 annualized dividend and a yield of 1.48%. Pentair’s dividend payout ratio (DPR) is presently 29.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Robert W. Baird upped their price target on shares of Pentair from $48.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, February 1st. UBS Group upgraded Pentair from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $53.00 to $72.00 in a research note on Monday, May 8th. Cowen boosted their price objective on Pentair from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. Barclays upped their price target on Pentair from $65.00 to $66.00 in a research note on Monday, May 1st. Finally, StockNews.com initiated coverage on Pentair in a research note on Thursday. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.14.

About Pentair

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Pentair plc engages in the provision of water solutions for residential, commercial, industrial, infrastructure, and agriculture applications. Its portfolio of solutions enables people, businesses, and industries to access clean, safe water, reduce water consumption, and recover and reuse it. The firm operates through the following business segments: Consumer Solutions and Industrial & Flow Technologies.