Allstate Corp Buys New Holdings in Pentair plc (NYSE:PNR)

Allstate Corp purchased a new position in Pentair plc (NYSE:PNR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,876 shares of the industrial products company’s stock, valued at approximately $491,000.

Other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas raised its holdings in Pentair by 219.0% during the 4th quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company’s stock valued at $60,863,000 after buying an additional 415,163 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Pentair by 862.2% during the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock valued at $43,212,000 after acquiring an additional 395,962 shares during the last quarter. Norges Bank purchased a new stake in Pentair in the 4th quarter worth approximately $36,568,000. Allianz Asset Management GmbH grew its position in shares of Pentair by 67.4% in the 4th quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock worth $89,390,000 after buying an additional 357,523 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new position in shares of Pentair during the third quarter valued at approximately $26,748,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on PNR shares. Barclays dropped their price target on Pentair from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Citigroup cut their target price on shares of Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Stifel Nicolaus decreased their price target on shares of Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Baird R W raised Pentair from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 25th. Finally, StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $112.27.

Pentair Price Performance

Shares of NYSE:PNR opened at $87.96 on Wednesday. The business has a fifty day moving average price of $93.88 and a 200-day moving average price of $98.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The company has a market capitalization of $14.50 billion, a PE ratio of 23.52, a PEG ratio of 1.87 and a beta of 1.23. Pentair plc has a 1-year low of $72.63 and a 1-year high of $110.71.

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, beating analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. Pentair’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.87 EPS. As a group, equities analysts expect that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 1.14%. Pentair’s dividend payout ratio (DPR) is presently 26.74%.

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.