Nomura Asset Management Co. Ltd. Purchases 2,815 Shares of Pentair PLC. (PNR)
Nomura Asset Management Co. Ltd. lifted its position in Pentair PLC. (NYSE:PNR) by 12.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,027 shares of the industrial products company’s stock after purchasing an additional 2,815 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Pentair were worth $1,701,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Pentair by 2.5% during the second quarter. Vanguard Group Inc. now owns 16,159,434 shares of the industrial products company’s stock worth $1,075,249,000 after acquiring an additional 392,842 shares in the last quarter. Trian Fund Management L.P. raised its stake in Pentair by 6.0% during the second quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock worth $1,011,470,000 after acquiring an additional 862,769 shares in the last quarter. BlackRock Inc. raised its stake in Pentair by 5.1% during the second quarter. BlackRock Inc. now owns 12,152,997 shares of the industrial products company’s stock worth $808,662,000 after acquiring an additional 588,818 shares in the last quarter. Wells Fargo & Company MN raised its stake in Pentair by 0.5% during the third quarter. Wells Fargo & Company MN now owns 2,409,123 shares of the industrial products company’s stock worth $163,724,000 after acquiring an additional 11,035 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Pentair by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 2,163,251 shares of the industrial products company’s stock worth $147,004,000 after acquiring an additional 45,001 shares in the last quarter. Institutional investors and hedge funds own 84.56% of the company’s stock.
Several research analysts have issued reports on the company. Zacks Investment Research upgraded Pentair from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Tuesday, December 5th. Seaport Global Securities reiterated a “buy” rating on shares of Pentair in a research note on Wednesday, October 25th. BMO Capital Markets increased their price objective on Pentair from $78.00 to $79.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 25th. Robert W. Baird increased their price objective on Pentair from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $76.00 price objective (up from $75.00) on shares of Pentair in a research note on Wednesday, October 25th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $70.67.
In related news, Director William T. Monahan sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $70.27, for a total value of $702,700.00. Following the transaction, the director now owns 50,656 shares in the company, valued at $3,559,597.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald Merriman sold 5,200 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $67.00, for a total value of $348,400.00. Following the completion of the transaction, the director now owns 21,538 shares in the company, valued at approximately $1,443,046. The disclosure for this sale can be found here. Insiders have sold 217,632 shares of company stock worth $14,783,286 in the last 90 days. Company insiders own 9.90% of the company’s stock.
Shares of Pentair PLC. (NYSE PNR) traded down $0.04 during mid-day trading on Thursday, hitting $69.64. The stock had a trading volume of 1,163,300 shares, compared to its average volume of 986,149. The company has a quick ratio of 1.05, a current ratio of 1.59 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $12,653.89, a PE ratio of 20.62, a PEG ratio of 1.85 and a beta of 1.41. Pentair PLC. has a 12 month low of $55.76 and a 12 month high of $71.76.
Pentair (NYSE:PNR) last announced its earnings results on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.93 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Pentair had a return on equity of 13.39% and a net margin of 12.50%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share. equities research analysts forecast that Pentair PLC. will post 3.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 26th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, January 25th. This is a boost from Pentair’s previous quarterly dividend of $0.35. Pentair’s dividend payout ratio is presently 41.82%.
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Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.
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