Pentair plc (NYSE:PNR) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. reduced its position in shares of Pentair plc (NYSE:PNR) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,189,345 shares of the industrial products company’s stock after selling 79,863 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.72% of Pentair worth $119,696,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PNR. New Age Alpha Advisors LLC acquired a new stake in Pentair in the fourth quarter valued at $65,000. Norges Bank acquired a new stake in shares of Pentair in the fourth quarter valued at about $36,568,000. Blair William & Co. IL purchased a new stake in Pentair during the fourth quarter worth about $285,000. Caisse Des Depots ET Consignations acquired a new position in Pentair during the fourth quarter worth about $1,696,000. Finally, NEOS Investment Management LLC increased its holdings in Pentair by 25.6% in the fourth quarter. NEOS Investment Management LLC now owns 6,074 shares of the industrial products company’s stock valued at $611,000 after buying an additional 1,238 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Down 1.0 %

PNR stock opened at $89.19 on Friday. The company has a 50 day moving average price of $94.86 and a two-hundred day moving average price of $98.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The stock has a market capitalization of $14.70 billion, a P/E ratio of 23.85, a PEG ratio of 1.87 and a beta of 1.23. Pentair plc has a one year low of $72.63 and a one year high of $110.71.

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

Pentair Announces Dividend

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 given a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. Pentair’s dividend payout ratio is presently 26.74%.

Wall Street Analysts Forecast Growth

PNR has been the topic of several research analyst reports. Stifel Nicolaus decreased their price target on Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Baird R W upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Robert W. Baird upgraded Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price target for the company in a research report on Tuesday. Northcoast Research upgraded shares of Pentair from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, KeyCorp reissued a “sector weight” rating and issued a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.27.

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.