Amalgamated Bank Raises Position in Pentair plc (NYSE:PNR)

Amalgamated Bank increased its holdings in Pentair plc (NYSE:PNR) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,675 shares of the industrial products company’s stock after purchasing an additional 2,187 shares during the quarter. Amalgamated Bank’s holdings in Pentair were worth $4,266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PNR. Commonwealth Equity Services LLC raised its position in Pentair by 4.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 34,622 shares of the industrial products company’s stock worth $2,242,000 after purchasing an additional 1,479 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Pentair by 6.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,064 shares of the industrial products company’s stock valued at $781,000 after acquiring an additional 713 shares during the period. Stratos Wealth Partners LTD. increased its position in shares of Pentair by 7.0% in the third quarter. Stratos Wealth Partners LTD. now owns 5,021 shares of the industrial products company’s stock valued at $325,000 after acquiring an additional 330 shares during the period. Mackenzie Financial Corp increased its position in shares of Pentair by 10.5% in the third quarter. Mackenzie Financial Corp now owns 6,121 shares of the industrial products company’s stock valued at $387,000 after acquiring an additional 584 shares during the period. Finally, Park Avenue Securities LLC increased its position in shares of Pentair by 11.0% in the third quarter. Park Avenue Securities LLC now owns 20,369 shares of the industrial products company’s stock valued at $1,319,000 after acquiring an additional 2,011 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PNR shares. Citigroup boosted their price objective on shares of Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Northcoast Research raised shares of Pentair from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Monday, April 15th. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Mizuho lifted their target price on shares of Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, KeyCorp lifted their target price on shares of Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.93.

Pentair Trading Up 0.4 %

NYSE:PNR opened at $83.36 on Thursday. The stock has a market cap of $13.84 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.37 and a beta of 1.24. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average price is $81.25 and its 200-day moving average price is $73.01. Pentair plc has a 52 week low of $55.26 and a 52 week high of $85.81.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.01 billion. During the same period last year, the business posted $0.91 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Pentair plc will post 4.24 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 2nd. Shareholders of record on Friday, July 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, July 19th. Pentair’s dividend payout ratio is currently 24.47%.

Pentair Profile

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.