Ieq Capital LLC Has $6.23 Million Stock Holdings in Pentair plc (NYSE:PNR)

Ieq Capital LLC increased its holdings in shares of Pentair plc (NYSE:PNR) by 428.6% in the 4th quarter, HoldingsChannel reports. The firm owned 61,928 shares of the industrial products company’s stock after acquiring an additional 50,213 shares during the period. Ieq Capital LLC’s holdings in Pentair were worth $6,232,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Creative Planning grew its position in shares of Pentair by 9.7% during the 3rd quarter. Creative Planning now owns 17,180 shares of the industrial products company’s stock worth $1,680,000 after buying an additional 1,519 shares during the period. Blue Trust Inc. lifted its position in shares of Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 327 shares during the period. Raymond James & Associates boosted its stake in Pentair by 10.3% during the third quarter. Raymond James & Associates now owns 78,136 shares of the industrial products company’s stock worth $7,641,000 after acquiring an additional 7,303 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Pentair by 14.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,337 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 167 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in Pentair by 82.7% in the third quarter. Sequoia Financial Advisors LLC now owns 5,034 shares of the industrial products company’s stock worth $492,000 after purchasing an additional 2,279 shares during the period. 92.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PNR. Oppenheimer increased their price objective on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Citigroup dropped their price target on Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Robert W. Baird raised their price objective on Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Barclays upped their target price on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Pentair has a consensus rating of “Moderate Buy” and an average price target of $111.25.

Pentair Stock Performance

Shares of PNR stock opened at $95.17 on Friday. Pentair plc has a one year low of $72.63 and a one year high of $110.71. The company has a market cap of $15.73 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.89 and a beta of 1.20. The firm has a 50-day moving average of $100.83 and a 200-day moving average of $97.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The firm had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. During the same quarter last year, the firm earned $0.87 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities research analysts forecast that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.00 annualized dividend and a yield of 1.05%. This is a boost from Pentair’s previous quarterly dividend of $0.23. Pentair’s payout ratio is currently 26.74%.

Pentair Profile

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.