Victory Capital Management Inc. Boosts Holdings in Pentair plc (NYSE:PNR)

Victory Capital Management Inc. boosted its position in shares of Pentair plc (NYSE:PNR) by 7.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 468,605 shares of the industrial products company’s stock after buying an additional 33,039 shares during the quarter. Victory Capital Management Inc.’s holdings in Pentair were worth $34,072,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PNR. Commonwealth Equity Services LLC boosted its stake in Pentair by 4.5% during the third quarter. Commonwealth Equity Services LLC now owns 34,622 shares of the industrial products company’s stock worth $2,242,000 after buying an additional 1,479 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of Pentair by 6.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,064 shares of the industrial products company’s stock worth $781,000 after purchasing an additional 713 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Pentair by 7.0% during the third quarter. Stratos Wealth Partners LTD. now owns 5,021 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 330 shares during the last quarter. Bailard Inc. lifted its position in shares of Pentair by 30.6% during the third quarter. Bailard Inc. now owns 4,387 shares of the industrial products company’s stock worth $284,000 after purchasing an additional 1,027 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Pentair by 10.5% during the third quarter. Mackenzie Financial Corp now owns 6,121 shares of the industrial products company’s stock worth $387,000 after purchasing an additional 584 shares during the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PNR. Oppenheimer lifted their target price on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Bank of America upgraded 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 report on Thursday, January 11th. Stifel Nicolaus lifted their price objective on Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, March 7th. The Goldman Sachs Group restated a “neutral” rating and issued a $91.00 price objective on shares of Pentair in a report on Friday, March 22nd. Finally, Mizuho lifted their price objective on Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.93.

Pentair Stock Performance

Shares of Pentair stock opened at $81.90 on Tuesday. Pentair plc has a one year low of $55.26 and a one year high of $85.81. The company has a market capitalization of $13.60 billion, a PE ratio of 21.78, a P/E/G ratio of 1.37 and a beta of 1.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90. The company has a 50-day simple moving average of $80.99 and a two-hundred day simple moving average of $72.79.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. Research analysts expect that Pentair plc will post 4.24 EPS for the current fiscal year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Friday, April 19th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.12%. Pentair’s payout ratio is 24.47%.

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.