Daiwa Securities Group Inc. Raises Stake in Pentair plc (NYSE:PNR)

Daiwa Securities Group Inc. raised its holdings in Pentair plc (NYSE:PNR) by 29.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,621 shares of the industrial products company’s stock after purchasing an additional 17,741 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Pentair were worth $7,812,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Harbour Investments Inc. increased its position in Pentair by 10.7% in the 3rd quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock valued at $644,000 after acquiring an additional 636 shares during the period. Moody National Bank Trust Division purchased a new position in shares of Pentair in the 4th quarter valued at approximately $989,000. Algert Global LLC acquired a new position in shares of Pentair in the third quarter valued at approximately $479,000. FMR LLC raised its stake in shares of Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after purchasing an additional 258,134 shares during the last quarter. Finally, Pathstone Holdings LLC lifted its holdings in shares of Pentair by 47.4% during the third quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock worth $1,944,000 after purchasing an additional 6,391 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PNR has been the subject of a number of analyst reports. Oppenheimer upped their price objective on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Northcoast Research upgraded shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Pentair in a research report on Thursday, November 21st. Robert W. Baird boosted their target price on Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus cut their target price on Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Pentair has an average rating of “Moderate Buy” and a consensus price target of $111.25.

Pentair Trading Up 1.1 %

Shares of PNR stock opened at $86.09 on Wednesday. The stock has a market cap of $14.19 billion, a P/E ratio of 23.02, a P/E/G ratio of 1.87 and a beta of 1.23. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The business has a fifty day simple moving average of $97.73 and a 200-day simple moving average of $98.74.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The firm had revenue of $972.90 million during the quarter, compared to the consensus estimate of $970.95 million. During the same period last year, the firm posted $0.87 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts forecast that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Thursday, April 17th. Pentair’s payout ratio is currently 26.74%.

Pentair 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.