Outfitter Financial LLC Acquires 960 Shares of Pentair plc (NYSE:PNR)

Outfitter Financial LLC increased its holdings in shares of Pentair plc (NYSE:PNR) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,335 shares of the industrial products company’s stock after purchasing an additional 960 shares during the quarter. Pentair makes up about 1.5% of Outfitter Financial LLC’s investment portfolio, making the stock its 25th biggest holding. Outfitter Financial LLC’s holdings in Pentair were worth $1,769,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Lord Abbett & CO. LLC bought a new position in Pentair in the third quarter valued at approximately $21,044,000. Assenagon Asset Management S.A. grew its stake in shares of Pentair by 228.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 373,082 shares of the industrial products company’s stock valued at $27,127,000 after buying an additional 259,385 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Pentair during the third quarter worth $14,763,000. Vanguard Group Inc. increased its holdings in Pentair by 1.0% during the third quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock worth $1,287,364,000 after buying an additional 204,416 shares during the last quarter. Finally, Impax Asset Management Group plc raised its position in Pentair by 1.3% during the fourth quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock worth $718,440,000 after acquiring an additional 131,745 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Pentair Stock Performance

Shares of PNR traded down $0.27 during mid-day trading on Friday, hitting $83.58. 138,896 shares of the company’s stock were exchanged, compared to its average volume of 1,602,475. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.63. Pentair plc has a 52 week low of $55.26 and a 52 week high of $85.81. The stock’s 50-day simple moving average is $81.37 and its 200-day simple moving average is $73.08. The firm has a market cap of $13.88 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.24.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. On average, equities research analysts expect that Pentair plc will post 4.24 EPS for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Analyst Ratings Changes

PNR has been the topic of a number of research analyst reports. BNP Paribas began coverage on shares of Pentair in a report on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 target price on the stock. Bank of America raised Pentair from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $46.00 to $76.00 in a research report on Thursday, January 11th. Barclays increased their price target on Pentair from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $91.00 price objective on shares of Pentair in a research report on Friday, March 22nd. Finally, TD Cowen increased their price objective on shares of Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.93.

Pentair Company 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.