Retirement Systems of Alabama Has $2.65 Million Stock Position in Pentair plc (NYSE:PNR)

Retirement Systems of Alabama reduced its stake in shares of Pentair plc (NYSE:PNR) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,431 shares of the industrial products company’s stock after selling 902 shares during the quarter. Retirement Systems of Alabama’s holdings in Pentair were worth $2,649,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Lindbrook Capital LLC increased its holdings in shares of Pentair by 82.4% during the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 154 shares during the period. Assetmark Inc. increased its stake in Pentair by 935.1% during the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 346 shares during the period. Quent Capital LLC raised its holdings in Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 213 shares in the last quarter. Baystate Wealth Management LLC bought a new stake in shares of Pentair in the 3rd quarter worth approximately $30,000. Finally, Operose Advisors LLC acquired a new stake in shares of Pentair during the 3rd quarter worth approximately $34,000. 92.37% of the stock is owned by institutional investors.

Pentair Trading Up 1.4 %

PNR stock opened at $83.02 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 1.37 and a beta of 1.24. The business has a fifty day moving average price of $81.12 and a 200 day moving average price of $72.93. Pentair plc has a fifty-two week low of $55.26 and a fifty-two week high of $85.81.

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

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%. Pentair’s payout ratio is 24.47%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Citigroup raised their target price on Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada raised their price objective on shares of Pentair from $101.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Bank of America raised shares of Pentair from an “underperform” rating to a “neutral” rating and upped their target price for the company from $46.00 to $76.00 in a research note on Thursday, January 11th. Barclays increased their price target on shares of Pentair from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Finally, Northcoast Research raised Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Monday, April 15th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.93.

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.