State of New Jersey Common Pension Fund D Has $4.85 Million Stock Holdings in Pentair plc (NYSE:PNR)

Posted by Defense World Staff on Jul 16th, 2023

Pentair logo State of New Jersey Common Pension Fund D grew its holdings in Pentair plc (NYSE:PNR – Free Report) by 9.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 87,708 shares of the industrial products company’s stock after buying an additional 7,683 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.05% of Pentair worth $4,848,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. AdvisorNet Financial Inc raised its stake in shares of Pentair by 68.6% in the 4th quarter. AdvisorNet Financial Inc now owns 590 shares of the industrial products company’s stock valued at $27,000 after buying an additional 240 shares in the last quarter. Ancora Advisors LLC bought a new stake in shares of Pentair in the 1st quarter worth about $56,000. CWM LLC grew its holdings in shares of Pentair by 25.9% in the 4th quarter. CWM LLC now owns 2,042 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 420 shares during the last quarter. Mendota Financial Group LLC bought a new stake in shares of Pentair in the 4th quarter worth about $99,000. Finally, Affiance Financial LLC bought a new stake in shares of Pentair in the 4th quarter worth about $106,000. Institutional investors and hedge funds own 89.95% of the company’s stock.

Pentair Stock Performance

Shares of NYSE:PNR opened at $65.87 on Friday. The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 2.09 and a beta of 1.16. The firm’s 50 day simple moving average is $60.49 and its 200 day simple moving average is $55.70. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.76 and a quick ratio of 0.98. Pentair plc has a fifty-two week low of $38.55 and a fifty-two week high of $67.14.

Pentair (NYSE:PNR – Get Free Report) last announced its quarterly earnings results on Thursday, April 27th. The industrial products company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.14. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $996.02 million. Pentair had a net margin of 11.88% and a return on equity of 23.09%. Pentair’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. As a group, sell-side analysts forecast that Pentair plc will post 3.66 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 4th. Investors of record on Friday, July 21st will be given a $0.22 dividend. The ex-dividend date is Thursday, July 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.34%. Pentair’s dividend payout ratio is 29.53%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PNR shares. Citigroup upped their target price on shares of Pentair from $70.00 to $74.00 in a report on Monday, July 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Pentair in a report on Wednesday, June 28th. They set a “buy” rating and a $75.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Pentair from $69.00 to $71.00 in a report on Friday, April 28th. Oppenheimer increased their price objective on shares of Pentair from $72.00 to $78.00 in a report on Wednesday, July 5th. Finally, UBS Group raised shares of Pentair from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $53.00 to $72.00 in a report on Monday, May 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.27.

Pentair Company Profile

(Free Report)

Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.