Pentair plc (NYSE:PNR) is Impax Asset Management Group plc’s 6th Largest Position

Impax Asset Management Group plc lessened its position in shares of Pentair plc (NYSE:PNR) by 33.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,061,719 shares of the industrial products company’s stock after selling 2,557,006 shares during the quarter. Pentair makes up about 2.3% of Impax Asset Management Group plc’s holdings, making the stock its 6th largest position. Impax Asset Management Group plc owned about 3.06% of Pentair worth $508,426,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Harbour Investments Inc. grew 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 valued at $644,000 after buying an additional 636 shares during the last quarter. Moody National Bank Trust Division purchased a new stake in shares of Pentair in the fourth quarter valued at $989,000. Algert Global LLC acquired a new stake in shares of Pentair during the third quarter valued at $479,000. FMR LLC raised its stake in Pentair by 4.7% in the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after purchasing an additional 258,134 shares during the last quarter. Finally, Pathstone Holdings LLC raised its stake in Pentair by 47.4% in the 3rd quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock valued at $1,944,000 after purchasing an additional 6,391 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PNR has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Pentair in a report on Thursday, November 21st. Wolfe Research began coverage on shares of Pentair in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price for the company. Barclays boosted their price target on Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citigroup lowered their price objective on Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Robert W. Baird upped their target price on Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.25.

Pentair Trading Down 2.5 %

Shares of PNR stock opened at $92.89 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The firm’s 50 day moving average price is $100.54 and its two-hundred day moving average price is $98.21. The stock has a market cap of $15.35 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. 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 previous year, the business posted $0.87 EPS. The business’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts anticipate that Pentair plc will post 4.77 EPS for the current year.

Pentair Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were issued a dividend of $0.25 per share. This is an increase from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Friday, January 24th. Pentair’s dividend payout ratio (DPR) is presently 26.74%.

Pentair 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.