25,000 Shares in Pentair plc (NYSE:PNR) Purchased by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of Pentair plc (NYSE:PNR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,000 shares of the industrial products company’s stock, valued at approximately $2,516,000.

Several other large investors also recently modified their holdings of PNR. Quarry LP raised its holdings in shares of Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares during the period. SJS Investment Consulting Inc. grew its stake in Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock valued at $34,000 after buying an additional 294 shares in the last quarter. Eastern Bank raised its holdings in Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 300 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Pentair in the fourth quarter worth $55,000. Finally, Friedenthal Financial bought a new stake in shares of Pentair during the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PNR. Stifel Nicolaus reduced their target price on Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a report on Friday, January 24th. Northcoast Research raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Citigroup decreased their target price on shares of Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, January 13th. KeyCorp restated a “sector weight” rating and set a $115.00 price target on shares of Pentair in a research report on Monday, January 6th. Finally, Robert W. Baird upgraded Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price objective on the stock in a research report on Tuesday, March 25th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $112.27.

Pentair Stock Down 3.5 %

Shares of PNR opened at $78.66 on Friday. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The stock has a 50 day simple moving average of $92.63 and a two-hundred day simple moving average of $98.54. The firm has a market cap of $12.96 billion, a P/E ratio of 21.03, a P/E/G ratio of 1.87 and a beta of 1.13.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The company had revenue of $972.90 million during the quarter, compared to analysts’ expectations of $970.95 million. During the same quarter in the prior year, the company earned $0.87 EPS. The firm’s revenue was down 1.2% on a year-over-year basis. On average, analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. Pentair’s dividend payout ratio is currently 26.74%.

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.