Pentair plc $PNR Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System grew its stake in Pentair plc (NYSE:PNR) by 57.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 503,272 shares of the industrial products company’s stock after acquiring an additional 183,089 shares during the period. California Public Employees Retirement System owned about 0.31% of Pentair worth $43,840,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Wealthfront Advisers LLC increased its holdings in Pentair by 7.1% in the 1st quarter. Wealthfront Advisers LLC now owns 5,460 shares of the industrial products company’s stock valued at $476,000 after purchasing an additional 362 shares during the last quarter. Sigma Planning Corp lifted its stake in Pentair by 7.1% during the first quarter. Sigma Planning Corp now owns 7,862 shares of the industrial products company’s stock worth $685,000 after purchasing an additional 524 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in Pentair by 21.4% during the first quarter. Checchi Capital Advisers LLC now owns 2,375 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 418 shares in the last quarter. Calamos Wealth Management LLC purchased a new position in shares of Pentair during the first quarter worth $337,000. Finally, Calamos Advisors LLC boosted its position in shares of Pentair by 2.4% during the first quarter. Calamos Advisors LLC now owns 167,739 shares of the industrial products company’s stock worth $14,612,000 after buying an additional 3,865 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Trading Down 0.5%

NYSE:PNR opened at $62.15 on Tuesday. The firm has a market cap of $10.04 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.36 and a beta of 1.03. The stock has a fifty day moving average price of $73.30 and a 200 day moving average price of $87.26. Pentair plc has a 12-month low of $57.60 and a 12-month high of $113.95. 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 issued its quarterly earnings results 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. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.Pentair’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.11 EPS. Sell-side analysts anticipate that Pentair plc will post 4.66 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, July 24th. Pentair’s dividend payout ratio is presently 26.47%.

Wall Street Analyst Weigh In

PNR has been the topic of several research analyst reports. Oppenheimer cut their price objective on Pentair from $115.00 to $94.00 and set an “outperform” rating on the stock in a report on Thursday, July 16th. Royal Bank Of Canada downgraded Pentair from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $101.00 to $74.00 in a research report on Wednesday, July 15th. Citigroup cut their price target on shares of Pentair from $112.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. BNP Paribas Exane reissued an “underperform” rating and set a $64.00 price target (down from $75.00) on shares of Pentair in a research report on Thursday. Finally, Jefferies Financial Group set a $90.00 price objective on shares of Pentair in a research note on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $93.87.

Pentair 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.