Kayne Anderson Rudnick Investment Management LLC Acquires 62,926 Shares of Pentair plc (NYSE:PNR)

Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Pentair plc (NYSE:PNR) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,749,965 shares of the industrial products company’s stock after acquiring an additional 62,926 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 1.06% of Pentair worth $176,117,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Pentair by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company’s stock worth $2,034,575,000 after purchasing an additional 148,031 shares during the last quarter. FMR LLC grew its position in shares of Pentair by 7.0% in the 4th quarter. FMR LLC now owns 6,101,253 shares of the industrial products company’s stock valued at $614,030,000 after buying an additional 396,581 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Pentair by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 4,086,763 shares of the industrial products company’s stock valued at $410,240,000 after buying an additional 87,244 shares during the period. Bessemer Group Inc. raised its position in shares of Pentair by 37.0% during the fourth quarter. Bessemer Group Inc. now owns 1,283,164 shares of the industrial products company’s stock worth $129,137,000 after acquiring an additional 346,843 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Pentair by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company’s stock worth $101,653,000 after acquiring an additional 7,434 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Trading Down 0.6 %

NYSE PNR opened at $80.27 on Friday. Pentair plc has a 52 week low of $72.63 and a 52 week high of $110.71. The business has a 50 day moving average price of $87.81 and a 200-day moving average price of $97.23. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. The company has a market cap of $13.24 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.87 and a beta of 1.13.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.06. The firm had revenue of $972.90 million for the quarter, compared to the consensus estimate of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 earnings per share. As a group, equities analysts expect that Pentair plc will post 4.77 earnings per share for the current fiscal 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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair’s dividend payout ratio (DPR) is presently 26.74%.

Wall Street Analysts Forecast Growth

PNR has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their target price on shares of Pentair from $125.00 to $102.00 and set a “buy” rating for the company in a research report on Wednesday. Citigroup decreased their price objective on shares of Pentair from $118.00 to $98.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Robert W. Baird upgraded shares of Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 target price on the stock in a report on Tuesday, March 25th. Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Barclays dropped their price objective on Pentair from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

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.