Hunter Associates Investment Management LLC Invests $231,000 in Pentair plc (NYSE:PNR)

Hunter Associates Investment Management LLC bought a new stake in shares of Pentair plc (NYSE:PNR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,363 shares of the industrial products company’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Opal Wealth Advisors LLC purchased a new stake in shares of Pentair during the second quarter valued at approximately $25,000. Crewe Advisors LLC boosted its position in Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after buying an additional 267 shares during the period. Blue Trust Inc. grew its holdings in Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 327 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Pentair in the second quarter valued at about $48,000. Finally, LRI Investments LLC bought a new position in shares of Pentair during the first quarter valued at about $56,000. 92.37% of the stock is currently owned by institutional investors.

Pentair Stock Performance

Shares of PNR opened at $99.10 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The stock has a market cap of $16.37 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.76 and a beta of 1.20. The business’s 50 day moving average price is $93.40 and its 200-day moving average price is $85.21. Pentair plc has a 52 week low of $57.45 and a 52 week high of $101.00.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same period in the previous year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.93%. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PNR. Stifel Nicolaus raised their target price on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Oppenheimer boosted their target price on Pentair from $98.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. UBS Group raised their price target on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Barclays raised their target price on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Pentair has an average rating of “Moderate Buy” and a consensus price target of $104.80.

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.