Gitterman Wealth Management LLC Raises Holdings in Pentair plc (NYSE:PNR)

Gitterman Wealth Management LLC lifted its holdings in shares of Pentair plc (NYSE:PNR) by 116.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,464 shares of the industrial products company’s stock after acquiring an additional 4,021 shares during the period. Pentair makes up approximately 0.2% of Gitterman Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding. Gitterman Wealth Management LLC’s holdings in Pentair were worth $543,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PNR. Assetmark Inc. boosted its position in Pentair by 935.1% in the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after buying an additional 346 shares during the last quarter. Lindbrook Capital LLC boosted its position in Pentair by 82.4% in the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after buying an additional 154 shares during the last quarter. IFP Advisors Inc boosted its position in Pentair by 97.6% in the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 202 shares in the last quarter. Quent Capital LLC boosted its position in Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 213 shares in the last quarter. Finally, Baystate Wealth Management LLC purchased a new stake in Pentair in the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Bank of America upgraded Pentair from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. KeyCorp upped their price objective on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Oppenheimer upped their price objective on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. Mizuho upped their price objective on Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, Northcoast Research raised Pentair from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.93.

Pentair Price Performance

NYSE PNR traded up $0.76 during mid-day trading on Friday, hitting $79.96. The stock had a trading volume of 959,329 shares, compared to its average volume of 1,557,437. The firm’s 50 day moving average is $80.45 and its 200 day moving average is $72.00. Pentair plc has a twelve month low of $53.88 and a twelve month high of $85.81. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 0.94. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.38 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company earned $0.91 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts forecast that Pentair plc will post 4.24 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio is currently 24.47%.

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.