140 Summer Partners LP Purchases 58,609 Shares of Pentair plc $PNR

140 Summer Partners LP raised its position in Pentair plc (NYSE:PNR) by 10.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 607,112 shares of the industrial products company’s stock after buying an additional 58,609 shares during the period. Pentair comprises approximately 4.7% of 140 Summer Partners LP’s holdings, making the stock its 11th largest holding. 140 Summer Partners LP’s holdings in Pentair were worth $63,225,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Avanza Fonder AB boosted its position 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 boosted its position 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 boosted its position 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. SG Americas Securities LLC boosted its position in shares of Pentair by 624.2% in the 4th quarter. SG Americas Securities LLC now owns 362,648 shares of the industrial products company’s stock worth $37,766,000 after purchasing an additional 312,574 shares during the last quarter. Finally, Clean Energy Transition LLP boosted its position in shares of Pentair by 26.7% in the 3rd quarter. Clean Energy Transition LLP now owns 313,005 shares of the industrial products company’s stock worth $34,668,000 after purchasing an additional 66,036 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors.

Pentair Price Performance

Shares of PNR opened at $75.27 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.19 and a current ratio of 1.88. The stock has a 50 day simple moving average of $79.53 and a 200 day simple moving average of $92.60. Pentair plc has a 52-week low of $69.93 and a 52-week high of $113.95. The firm has a market capitalization of $12.16 billion, a PE ratio of 18.45, a P/E/G ratio of 1.26 and a beta of 1.05.

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

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders 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 yield of 1.4%. The ex-dividend date is Friday, July 24th. Pentair’s dividend payout ratio (DPR) is 26.47%.

Analyst Ratings Changes

Several research analysts have recently issued reports on PNR shares. Royal Bank Of Canada reduced their price target on Pentair from $107.00 to $101.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Robert W. Baird set a $110.00 price target on Pentair in a research report on Wednesday, April 29th. Jefferies Financial Group restated a “buy” rating and issued a $125.00 price target (down from $135.00) on shares of Pentair in a research report on Tuesday, March 31st. TD Cowen reduced their price target on Pentair from $90.00 to $75.00 and set a “sell” rating on the stock in a research report on Wednesday, April 29th. Finally, Wall Street Zen lowered Pentair from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average 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.