8,114 Shares of Pentair plc $PNR Bought by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board purchased a new position in Pentair plc (NYSE:PNR) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,114 shares of the industrial products company’s stock, valued at approximately $430,000.

Other large investors also recently made changes to their positions in the company. Amundi boosted its stake in shares of Pentair by 13.1% during the 1st quarter. Amundi now owns 4,237,659 shares of the industrial products company’s stock worth $369,208,000 after acquiring an additional 491,758 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Pentair by 1,459.8% in the 1st quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company’s stock valued at $110,617,000 after acquiring an additional 1,189,122 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Pentair by 52.9% in the 1st quarter. First Trust Advisors LP now owns 1,215,064 shares of the industrial products company’s stock valued at $105,844,000 after acquiring an additional 420,140 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Pentair by 57.2% in the 1st quarter. California Public Employees Retirement System now owns 503,272 shares of the industrial products company’s stock worth $43,840,000 after purchasing an additional 183,089 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Pentair by 7.1% in the 1st quarter. Swiss National Bank now owns 480,287 shares of the industrial products company’s stock worth $41,838,000 after purchasing an additional 31,900 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Pentair Stock Down 0.5%

Shares of PNR stock opened at $69.30 on Thursday. Pentair plc has a one year low of $51.13 and a one year high of $109.89. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 0.77. The stock has a fifty day moving average price of $57.97 and a 200 day moving average price of $75.00. The stock has a market cap of $11.06 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.63 and a beta of 1.01.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.11. The firm had revenue of $976.40 million for the quarter, compared to analyst estimates of $963.71 million. Pentair had a net margin of 15.44% and a return on equity of 20.10%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 EPS. Analysts predict that Pentair plc will post 4.70 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 6th. Shareholders of record on Friday, October 23rd were paid a dividend of $0.27 per share. The ex-dividend date was Friday, October 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.6%. Pentair’s dividend payout ratio (DPR) is currently 28.65%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PNR shares. Weiss Ratings cut Pentair from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, October 28th. Stifel Nicolaus lowered shares of Pentair from a “buy” rating to a “hold” rating and dropped their price target for the company from $103.00 to $65.00 in a research report on Thursday, July 16th. Mizuho reduced their price objective on shares of Pentair from $85.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, October 15th. TD Cowen upgraded shares of Pentair from a “sell” rating to a “hold” rating and reduced their price objective for the stock from $65.00 to $55.00 in a research note on Wednesday, October 14th. Finally, Zacks Research raised shares of Pentair from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Pentair presently has a consensus rating of “Hold” and an average target price of $76.59.

Pentair Company Profile

Pentair plc is a water solutions company that develops and supplies products and services for managing, treating and moving water. Its offerings include water filtration and treatment systems, pumps, valves and related equipment for residential, commercial, industrial and agricultural customers. The company also serves the pool and spa market, providing equipment and systems such as pumps, filters, heaters and water-care products. Pentair serves customers in markets around the world. Founded in 1966, Pentair has evolved from its origins as a diversified manufacturer into a company focused on water-related businesses.