Raleigh Capital Management Inc. Raises Stake in Pentair plc (NYSE:PNR)

Raleigh Capital Management Inc. lifted its position in shares of Pentair plc (NYSE:PNR) by 18,860.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 948 shares of the industrial products company’s stock after buying an additional 943 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Pentair were worth $95,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PNR. American Century Companies Inc. raised its holdings in Pentair by 16.0% in the 2nd quarter. American Century Companies Inc. now owns 15,720 shares of the industrial products company’s stock valued at $1,205,000 after acquiring an additional 2,164 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Pentair by 4.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,842 shares of the industrial products company’s stock valued at $295,000 after purchasing an additional 174 shares during the period. Canada Pension Plan Investment Board acquired a new position in Pentair in the second quarter valued at $1,328,000. EverSource Wealth Advisors LLC increased its stake in Pentair by 27.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,336 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 290 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Pentair by 70.7% during the second quarter. Public Sector Pension Investment Board now owns 6,447 shares of the industrial products company’s stock worth $494,000 after buying an additional 2,670 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

Shares of NYSE PNR opened at $104.23 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. Pentair plc has a 1-year low of $70.59 and a 1-year high of $110.71. The company has a market capitalization of $17.22 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.68 and a beta of 1.21. The business has a 50-day moving average of $104.17 and a 200-day moving average of $95.54.

Pentair (NYSE:PNR) last released its quarterly 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 firm had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. During the same period in the previous year, the company posted $0.94 EPS. Pentair’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts anticipate that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be given a dividend of $0.25 per share. This is a boost from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, January 24th. Pentair’s payout ratio is presently 23.00%.

Analyst Ratings Changes

Several analysts have commented on the company. Citigroup lowered their price target on Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a report on Monday, January 13th. TD Cowen boosted their target price on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus boosted their price objective on shares of Pentair from $115.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group increased their target price on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $111.13.

Insider Activity

In related news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the sale, the executive vice president now owns 19,232 shares of the company’s stock, valued at $1,916,853.44. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

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.