Frank Rimerman Advisors LLC Increases Stock Holdings in Pentair plc (NYSE:PNR)

Frank Rimerman Advisors LLC increased its holdings in Pentair plc (NYSE:PNR) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,007 shares of the industrial products company’s stock after acquiring an additional 274 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Pentair were worth $705,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP raised its holdings in Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares in the last quarter. SJS Investment Consulting Inc. raised its holdings in Pentair by 753.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 294 shares in the last quarter. Eastern Bank raised its holdings in Pentair by 144.9% in the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 300 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Pentair in the fourth quarter worth $55,000. Finally, Friedenthal Financial bought a new position in Pentair in the fourth quarter worth $56,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Trading Up 2.6 %

Shares of NYSE:PNR opened at $86.18 on Friday. The stock has a market capitalization of $14.20 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 1.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The stock’s 50-day simple moving average is $96.80 and its two-hundred day simple moving average is $98.63. Pentair plc has a 52-week low of $72.63 and a 52-week high of $110.71.

Pentair (NYSE:PNR) last announced 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 business had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.87 earnings per share. Analysts expect that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The business also recently disclosed 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 of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. Pentair’s payout ratio is currently 26.74%.

Analyst Ratings Changes

A number of research firms have issued reports on PNR. Stifel Nicolaus decreased their price objective on Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a report on Friday, January 24th. Robert W. Baird raised their price target on Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. KeyCorp restated a “sector weight” rating and set a $115.00 price target on shares of Pentair in a report on Monday, January 6th. Citigroup reduced 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. Finally, StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.93.

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.