Norden Group LLC Purchases 251 Shares of Pentair plc (NYSE:PNR)

Norden Group LLC boosted its position in shares of Pentair plc (NYSE:PNR) by 10.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,565 shares of the industrial products company’s stock after purchasing an additional 251 shares during the period. Norden Group LLC’s holdings in Pentair were worth $258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PNR. Quarry LP increased its holdings in shares of Pentair by 105.5% during the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after buying an additional 134 shares in the last quarter. SJS Investment Consulting Inc. boosted its holdings in shares of Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 294 shares in the last quarter. Eastern Bank grew its position in Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 300 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Pentair during the 4th quarter valued at $55,000. Finally, Friedenthal Financial bought a new position in Pentair in the 4th quarter valued at $56,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Down 2.3 %

Shares of Pentair stock opened at $89.59 on Wednesday. The business has a fifty day simple moving average of $99.32 and a 200 day simple moving average of $98.60. The stock has a market cap of $14.77 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. 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 12 month low of $72.63 and a 12 month high of $110.71.

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

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. Pentair’s dividend payout ratio is 26.74%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PNR. Robert W. Baird increased their target price on Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Barclays increased their price objective on shares of Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Wolfe Research started 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. KeyCorp reiterated a “sector weight” rating and set a $115.00 target price on shares of Pentair in a research report on Monday, January 6th. Finally, Oppenheimer raised their price target on shares of Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Pentair has an average rating of “Moderate Buy” and a consensus target price of $111.25.

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.