Pentair plc $PNR Stake Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in shares of Pentair plc (NYSE:PNR) by 88.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,399 shares of the industrial products company’s stock after buying an additional 15,684 shares during the quarter. CIBC Asset Management Inc’s holdings in Pentair were worth $3,478,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PNR. Avanza Fonder AB grew its holdings in Pentair by 142.1% in the 4th quarter. Avanza Fonder AB now owns 38,940 shares of the industrial products company’s stock valued at $4,055,000 after buying an additional 22,858 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Pentair by 13.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,638,855 shares of the industrial products company’s stock valued at $274,810,000 after buying an additional 305,166 shares during the last quarter. Nordea Investment Management AB grew its holdings in Pentair by 22.8% in the 4th quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock valued at $366,787,000 after buying an additional 647,162 shares during the last quarter. IMC Chicago LLC acquired a new stake in Pentair in the 3rd quarter valued at approximately $1,635,000. Finally, SG Americas Securities LLC grew its holdings in Pentair by 624.2% in the 4th quarter. SG Americas Securities LLC now owns 362,648 shares of the industrial products company’s stock valued at $37,766,000 after buying an additional 312,574 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors.

Pentair Price Performance

Shares of NYSE:PNR opened at $73.17 on Monday. Pentair plc has a 1-year low of $69.93 and a 1-year high of $113.95. The firm has a market capitalization of $11.83 billion, a PE ratio of 17.93, a PEG ratio of 1.24 and a beta of 1.05. The business’s 50 day moving average is $81.24 and its 200-day moving average is $94.10. The company has a current ratio of 1.88, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.05. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm earned $1.11 EPS. Pentair’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts predict that Pentair plc will post 5.35 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, July 24th. Pentair’s dividend payout ratio (DPR) is presently 26.47%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PNR shares. Royal Bank Of Canada lowered their target price on Pentair from $107.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Oppenheimer lowered their target price on Pentair from $122.00 to $115.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $125.00 target price (down from $135.00) on shares of Pentair in a report on Tuesday, March 31st. Bank of America lowered their target price on Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. Finally, Robert W. Baird set a $110.00 target price on Pentair in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $107.86.

Pentair Company Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.