abrdn plc Grows Position in Pentair plc (NYSE:PNR)

abrdn plc raised its holdings in Pentair plc (NYSE:PNR – Get Rating) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,837 shares of the industrial products company’s stock after acquiring an additional 8,276 shares during the period. abrdn plc owned approximately 0.07% of Pentair worth $5,480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eisler Capital UK Ltd. purchased a new stake in shares of Pentair in the 3rd quarter valued at about $27,000. AdvisorNet Financial Inc raised its holdings in shares of Pentair by 68.6% during the 4th quarter. AdvisorNet Financial Inc now owns 590 shares of the industrial products company’s stock valued at $27,000 after buying an additional 240 shares in the last quarter. TCI Wealth Advisors Inc. raised its holdings in shares of Pentair by 162.0% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 752 shares of the industrial products company’s stock valued at $31,000 after buying an additional 465 shares in the last quarter. Ancora Advisors LLC purchased a new position in shares of Pentair during the 1st quarter valued at about $56,000. Finally, Quadrant Capital Group LLC raised its holdings 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 buying an additional 654 shares in the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Pentair Price Performance

Shares of PNR stock opened at $59.16 on Monday. The stock has a market cap of $9.76 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 1.85 and a beta of 1.12. The business’s fifty day moving average is $54.74 and its 200 day moving average is $51.21. Pentair plc has a twelve month low of $38.55 and a twelve month high of $60.85. The company has a quick ratio of 0.98, a current ratio of 1.76 and a debt-to-equity ratio of 0.89.

Pentair (NYSE:PNR – Get Rating) last released its earnings results on Thursday, April 27th. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.77 by $0.14. Pentair had a return on equity of 23.09% and a net margin of 11.88%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $996.02 million. During the same period in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts expect that Pentair plc will post 3.65 EPS 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 issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.49%. The ex-dividend date is Thursday, July 20th. Pentair’s dividend payout ratio (DPR) is 29.53%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PNR. Citigroup raised their price objective on Pentair from $54.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. StockNews.com assumed coverage on Pentair in a research note on Thursday. They issued a “hold” rating on the stock. Cowen lifted their price target on Pentair from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Stifel Nicolaus lifted their price target on Pentair from $69.00 to $71.00 in a research note on Friday, April 28th. Finally, Morgan Stanley boosted their target price on Pentair from $41.00 to $49.00 and gave the company an “underweight” rating in a research note on Wednesday, February 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.14.

Pentair Profile

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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.