Panagora Asset Management Inc. Acquires 321,341 Shares of Pentair plc $PNR

Panagora Asset Management Inc. grew its holdings in Pentair plc (NYSE:PNR) by 26.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,550,935 shares of the industrial products company’s stock after purchasing an additional 321,341 shares during the quarter. Pentair makes up 0.6% of Panagora Asset Management Inc.’s portfolio, making the stock its 29th biggest position. Panagora Asset Management Inc. owned 0.95% of Pentair worth $161,514,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PNR. Sivia Capital Partners LLC bought a new position in Pentair in the second quarter worth approximately $222,000. American Century Companies Inc. boosted its position in Pentair by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 9,350 shares of the industrial products company’s stock valued at $960,000 after acquiring an additional 513 shares in the last quarter. Cerity Partners LLC boosted its position in Pentair by 27.2% during the 2nd quarter. Cerity Partners LLC now owns 53,959 shares of the industrial products company’s stock valued at $5,539,000 after acquiring an additional 11,523 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Pentair by 54.7% in the 2nd quarter. Sei Investments Co. now owns 76,469 shares of the industrial products company’s stock valued at $7,850,000 after acquiring an additional 27,053 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of Pentair by 101.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 338,368 shares of the industrial products company’s stock worth $34,737,000 after acquiring an additional 170,707 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Down 0.2%

Shares of PNR stock opened at $73.68 on Monday. The stock’s fifty day moving average price is $79.98 and its 200 day moving average price is $93.04. Pentair plc has a 1-year low of $69.93 and a 1-year high of $113.95. The company has a market cap of $11.91 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.19.

Pentair (NYSE:PNR) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business posted $1.11 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, research analysts expect that Pentair plc will post 5.35 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be paid a $0.27 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.08 dividend on an annualized basis and a yield of 1.5%. Pentair’s dividend payout ratio (DPR) is 26.47%.

Analyst Upgrades and Downgrades

PNR has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price objective on Pentair from $110.00 to $103.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Weiss Ratings downgraded shares of Pentair from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Bank of America decreased their price target on shares of Pentair from $100.00 to $88.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. Royal Bank Of Canada lowered their price target on shares of Pentair from $107.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Finally, Barclays reduced their price objective on shares of Pentair from $95.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Pentair presently has an average rating of “Hold” and an average price target of $107.86.

About Pentair

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.