Nomura Asset Management Co. Ltd. Reduces Holdings in Pentair plc (NYSE:PNR)

Nomura Asset Management Co. Ltd. lowered its position in Pentair plc (NYSE:PNR) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,269,208 shares of the industrial products company’s stock after selling 84,290 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Pentair were worth $124,116,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cetera Advisors LLC increased its stake in shares of Pentair by 64.3% in the first quarter. Cetera Advisors LLC now owns 6,943 shares of the industrial products company’s stock worth $593,000 after purchasing an additional 2,718 shares in the last quarter. CWM LLC grew its stake in Pentair by 88.2% in the 2nd quarter. CWM LLC now owns 5,414 shares of the industrial products company’s stock valued at $415,000 after buying an additional 2,538 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Pentair by 5.5% during the 2nd quarter. QRG Capital Management Inc. now owns 9,131 shares of the industrial products company’s stock valued at $700,000 after acquiring an additional 477 shares during the period. Czech National Bank lifted its position in shares of Pentair by 8.7% during the second quarter. Czech National Bank now owns 31,637 shares of the industrial products company’s stock worth $2,426,000 after acquiring an additional 2,543 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Pentair by 8.0% in the second quarter. Sequoia Financial Advisors LLC now owns 2,755 shares of the industrial products company’s stock worth $211,000 after acquiring an additional 204 shares during the period. 92.37% of the stock is currently owned by institutional investors.

Pentair Trading Up 0.0 %

NYSE PNR opened at $108.11 on Monday. The stock’s 50-day simple moving average is $102.04 and its two-hundred day simple moving average is $89.96. Pentair plc has a twelve month low of $66.18 and a twelve month high of $110.71. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $17.86 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.93 and a beta of 1.20.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. Pentair’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. Research analysts forecast that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio is currently 23.00%.

Insider Buying and Selling

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PNR has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised their price objective on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wolfe Research assumed coverage on shares of Pentair in a report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 target price on the stock. Finally, Barclays raised their price target on shares of Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.13.

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.