Vest Financial LLC Makes New $41.20 Million Investment in Pentair plc $PNR

Vest Financial LLC purchased a new position in shares of Pentair plc (NYSE:PNR) in the third quarter, HoldingsChannel.com reports. The fund purchased 777,578 shares of the industrial products company’s stock, valued at approximately $41,204,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNR. Hilltop National Bank acquired a new position in Pentair during the second quarter valued at approximately $47,000. Hoese & Co LLP bought a new stake in Pentair during the third quarter worth $53,000. Westpac Banking Corp boosted its holdings in shares of Pentair by 30.1% in the 1st quarter. Westpac Banking Corp now owns 1,524 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 353 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Pentair in the 1st quarter valued at $203,000. Finally, Checchi Capital Advisers LLC boosted its holdings in shares of Pentair by 21.4% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,375 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 418 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Wall Street Analyst Weigh In

PNR has been the subject of several recent analyst reports. Robert W. Baird dropped their price objective on Pentair from $83.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. The Goldman Sachs Group reduced their price objective on Pentair from $73.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $65.00 target price (down from $103.00) on shares of Pentair in a research report on Thursday, July 16th. Wolfe Research raised Pentair from a “peer perform” rating to an “outperform” rating and set a $91.00 target price for the company in a research note on Tuesday, September 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $81.00 target price on shares of Pentair in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $76.19.

Pentair Stock Down 0.1%

Shares of NYSE:PNR opened at $52.85 on Thursday. The firm has a market cap of $8.44 billion, a P/E ratio of 13.28, a P/E/G ratio of 1.35 and a beta of 1.04. The company has a quick ratio of 0.76, a current ratio of 1.45 and a debt-to-equity ratio of 0.43. Pentair plc has a 12-month low of $51.13 and a 12-month high of $111.94. The business has a fifty day simple moving average of $57.26 and a 200 day simple moving average of $69.07.

Pentair (NYSE:PNR) last announced its earnings results on Wednesday, July 29th. The industrial products company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.12 by $0.02. Pentair had a return on equity of 20.62% and a net margin of 16.24%. The business had revenue of $932.60 million for the quarter, compared to analysts’ expectations of $943.24 million. During the same period in the prior year, the business posted $1.39 earnings per share. The firm’s revenue was down 17.0% on a year-over-year basis. Analysts predict that Pentair plc will post 4.64 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, October 23rd. Pentair’s payout ratio is 27.14%.

Pentair Profile

Pentair plc (NYSE: PNR) is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.