Allstate Corp Takes $491,000 Position in Pentair plc (NYSE:PNR)

Allstate Corp acquired a new stake in shares of Pentair plc (NYSE:PNR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,876 shares of the industrial products company’s stock, valued at approximately $491,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNR. Vanguard Group Inc. raised its stake in Pentair by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company’s stock valued at $2,034,575,000 after buying an additional 148,031 shares during the last quarter. State Street Corp grew its holdings in shares of Pentair by 3.1% in the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after acquiring an additional 259,922 shares during the period. Geode Capital Management LLC increased its position in Pentair by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock valued at $389,800,000 after acquiring an additional 19,853 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Pentair by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company’s stock valued at $101,653,000 after acquiring an additional 7,434 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in Pentair by 67.4% in the fourth quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock worth $89,390,000 after purchasing an additional 357,523 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PNR shares. Stifel Nicolaus lowered their price objective on shares of Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Citigroup reduced their price objective on Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Robert W. Baird raised Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price target for the company in a report on Tuesday, March 25th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $112.27.

Pentair Stock Up 0.6 %

NYSE PNR opened at $87.96 on Wednesday. Pentair plc has a 12 month low of $72.63 and a 12 month high of $110.71. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market cap of $14.50 billion, a PE ratio of 23.52, a P/E/G ratio of 1.87 and a beta of 1.23. The stock’s 50 day moving average is $93.88 and its 200 day moving average is $98.80.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.02 by $0.06. The firm had revenue of $972.90 million for the quarter, compared to the consensus estimate of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Research analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. Pentair’s payout ratio is 26.74%.

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.