Pentair plc (NYSE:PNR) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Pentair plc (NYSE:PNR) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,365 shares of the industrial products company’s stock after acquiring an additional 380 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Pentair were worth $1,949,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PNR. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Pentair by 22.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,090 shares of the industrial products company’s stock valued at $2,737,000 after purchasing an additional 5,051 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Pentair in the fourth quarter valued at $289,000. Longboard Asset Management LP purchased a new stake in Pentair during the 4th quarter worth about $209,000. GEN Financial Management INC. acquired a new position in shares of Pentair during the 4th quarter worth about $446,000. Finally, Spire Wealth Management purchased a new position in shares of Pentair in the 4th quarter valued at about $64,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PNR. UBS Group boosted their target price on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen boosted their price objective on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus dropped their target price on shares of Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Robert W. Baird boosted their price target on shares of Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Pentair in a research note on Thursday, November 21st. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.25.

Pentair Trading Up 0.5 %

Shares of PNR stock opened at $98.40 on Tuesday. Pentair plc has a twelve month low of $72.44 and a twelve month high of $110.71. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $102.66 and its two-hundred day moving average is $97.50. The company has a market capitalization of $16.26 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20.

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

Pentair Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were issued a dividend of $0.25 per share. This is a boost from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, January 24th. Pentair’s dividend payout ratio is currently 26.74%.

About Pentair

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.