Nomura Asset Management Co. Ltd. Has $57.84 Million Stock Position in Pentair plc (NYSE:PNR)

Nomura Asset Management Co. Ltd. lessened its position in Pentair plc (NYSE:PNR) by 10.7% in the fourth quarter, HoldingsChannel reports. The fund owned 795,453 shares of the industrial products company’s stock after selling 94,893 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Pentair were worth $57,837,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Lindbrook Capital LLC lifted its stake in Pentair by 82.4% during the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 154 shares in the last quarter. M&T Bank Corp boosted its holdings in Pentair by 0.5% during the fourth quarter. M&T Bank Corp now owns 32,590 shares of the industrial products company’s stock worth $2,369,000 after purchasing an additional 172 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Pentair by 24.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 173 shares in the last quarter. Ieq Capital LLC increased its stake in Pentair by 5.1% in the 3rd quarter. Ieq Capital LLC now owns 4,217 shares of the industrial products company’s stock valued at $273,000 after buying an additional 206 shares during the last quarter. Finally, Quent Capital LLC lifted its position in shares of Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after buying an additional 213 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PNR shares. Northcoast Research raised Pentair from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Monday, April 15th. Citigroup upped their target price on Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Stifel Nicolaus lifted their price objective on shares of Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. KeyCorp upped their target price on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Finally, StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.93.

Insider Transactions at Pentair

In related news, CEO Jerome O. Pedretti sold 24,747 shares of Pentair stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the transaction, the chief executive officer now directly owns 38,538 shares of the company’s stock, valued at approximately $3,254,534.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Pentair Stock Up 0.3 %

PNR traded up $0.22 on Friday, hitting $82.75. The company had a trading volume of 806,407 shares, compared to its average volume of 1,107,340. The stock has a fifty day simple moving average of $82.12 and a 200-day simple moving average of $75.03. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. The firm has a market capitalization of $13.74 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.42 and a beta of 1.24. Pentair plc has a 52-week low of $55.26 and a 52-week high of $85.84.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. As a group, equities analysts expect that Pentair plc will post 4.24 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Friday, July 19th. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Pentair Company 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.