Pinnacle Associates Ltd. Has $737,000 Holdings in Pentair plc (NYSE:PNR)

Pinnacle Associates Ltd. lessened its holdings in shares of Pentair plc (NYSE:PNRFree Report) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,131 shares of the industrial products company’s stock after selling 266 shares during the period. Pinnacle Associates Ltd.’s holdings in Pentair were worth $737,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Assetmark Inc. lifted its holdings in shares of Pentair by 935.1% during the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 346 shares during the period. Quent Capital LLC lifted its holdings in shares of Pentair by 112.7% during the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 213 shares during the period. IFP Advisors Inc lifted its holdings in shares of Pentair by 97.6% during the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 202 shares during the period. Baystate Wealth Management LLC acquired a new position in shares of Pentair during the third quarter worth $30,000. Finally, Operose Advisors LLC acquired a new position in shares of Pentair during the third quarter worth $34,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $91.00 target price on shares of Pentair in a research note on Friday, March 22nd. Bank of America raised shares of Pentair from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $46.00 to $76.00 in a research note on Thursday, January 11th. Royal Bank of Canada lifted their target price on shares of Pentair from $78.00 to $87.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Mizuho lifted their target price on shares of Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, BNP Paribas began coverage on shares of Pentair in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

View Our Latest Research Report on PNR

Pentair Trading Down 1.4 %

NYSE:PNR opened at $83.24 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.65 and a quick ratio of 0.94. The firm has a 50-day moving average of $77.89 and a 200-day moving average of $70.06. The company has a market cap of $13.82 billion, a PE ratio of 22.20, a PEG ratio of 1.62 and a beta of 1.20. Pentair plc has a one year low of $51.38 and a one year high of $85.81.

Pentair (NYSE:PNRGet Free Report) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.01. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The business had revenue of $984.60 million for the quarter, compared to analysts’ expectations of $975.36 million. During the same period in the previous year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities research analysts expect that Pentair plc will post 4.22 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s dividend payout ratio (DPR) is presently 24.53%.

About Pentair

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pentair plc (NYSE:PNRFree Report).

Institutional Ownership by Quarter for Pentair (NYSE:PNR)

Receive News & Ratings for Pentair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pentair and related companies with MarketBeat.com's FREE daily email newsletter.