Pentair plc (NYSE:PNR) Shares Bought by World Equity Group Inc.

World Equity Group Inc. raised its holdings in Pentair plc (NYSE:PNR) by 100.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,950 shares of the industrial products company’s stock after acquiring an additional 3,476 shares during the quarter. World Equity Group Inc.’s holdings in Pentair were worth $699,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harbour Investments Inc. raised its holdings in Pentair by 10.7% during the 3rd quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock worth $644,000 after buying an additional 636 shares during the period. Moody National Bank Trust Division acquired a new stake in Pentair during the 4th quarter worth about $989,000. Algert Global LLC acquired a new stake in Pentair during the 3rd quarter worth about $479,000. FMR LLC raised its holdings in Pentair by 4.7% during the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after buying an additional 258,134 shares during the period. Finally, Pathstone Holdings LLC raised its holdings in Pentair by 47.4% during the 3rd quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock worth $1,944,000 after buying an additional 6,391 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Stock Down 2.5 %

Shares of Pentair stock opened at $92.89 on Monday. The stock has a market capitalization of $15.35 billion, a P/E ratio of 24.84, a PEG ratio of 1.87 and a beta of 1.20. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $100.54 and a two-hundred day moving average price of $98.21. Pentair plc has a 12-month low of $72.63 and a 12-month high of $110.71.

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

Pentair Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. This is a boost from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, January 24th. Pentair’s dividend payout ratio is currently 26.74%.

Analyst Ratings Changes

Several research firms have issued reports on PNR. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. KeyCorp restated a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a report on Monday, January 6th. Wolfe Research began coverage on Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price on the stock. Robert W. Baird upped their target price on Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Finally, Oppenheimer upped their target price on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $111.25.

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.