42,769 Shares in Pentair plc (NYSE:PNR) Purchased by Banque Pictet & Cie SA

Banque Pictet & Cie SA acquired a new position in Pentair plc (NYSE:PNR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 42,769 shares of the industrial products company’s stock, valued at approximately $4,304,000.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its holdings in Pentair by 3.1% in the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after buying an additional 259,922 shares during the last quarter. FMR LLC boosted its holdings in shares of 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 purchasing an additional 258,134 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Pentair by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after purchasing an additional 19,853 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Pentair by 11.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,489,715 shares of the industrial products company’s stock worth $143,823,000 after purchasing an additional 158,433 shares during the last quarter. Finally, Swedbank AB boosted its holdings in shares of Pentair by 17.9% during the 3rd quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock worth $132,141,000 after purchasing an additional 205,000 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Down 0.5 %

Shares of NYSE PNR opened at $96.71 on Friday. The firm has a market cap of $15.98 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 1.93 and a beta of 1.20. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a 52-week low of $72.63 and a 52-week high of $110.71. The business’s 50 day moving average is $101.81 and its two-hundred day moving average is $97.64.

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

Pentair Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. This is a positive change from Pentair’s previous quarterly dividend of $0.23. Pentair’s dividend payout ratio is currently 26.74%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PNR. TD Cowen boosted their target price on Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wolfe Research began coverage on Pentair in a report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 target price on the stock. UBS Group boosted their target price on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Oppenheimer boosted their target price on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays lifted their price target on shares of Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.