Daiwa Securities Group Inc. Has $5.86 Million Stake in Pentair plc (NYSE:PNR)

Daiwa Securities Group Inc. lifted its position in shares of Pentair plc (NYSE:PNR) by 30.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,880 shares of the industrial products company’s stock after buying an additional 14,057 shares during the period. Daiwa Securities Group Inc.’s holdings in Pentair were worth $5,856,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PNR. Advisors Asset Management Inc. acquired a new stake in Pentair in the 1st quarter valued at $489,000. California State Teachers Retirement System boosted its holdings in shares of Pentair by 0.4% in the 1st quarter. California State Teachers Retirement System now owns 260,531 shares of the industrial products company’s stock valued at $22,260,000 after buying an additional 977 shares during the last quarter. LBP AM SA bought a new position in shares of Pentair in the first quarter valued at $2,054,000. LRI Investments LLC acquired a new position in Pentair during the first quarter worth $58,000. Finally, Swedbank AB bought a new stake in Pentair during the first quarter worth $97,083,000. 92.37% of the stock is currently owned by institutional investors.

Pentair Stock Performance

NYSE PNR opened at $109.15 on Wednesday. The firm has a 50-day moving average price of $99.68 and a two-hundred day moving average price of $88.39. Pentair plc has a 12-month low of $62.81 and a 12-month high of $109.31. The company has a market capitalization of $18.03 billion, a P/E ratio of 27.29, a P/E/G ratio of 1.91 and a beta of 1.19. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

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

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s payout ratio is currently 23.00%.

Analysts Set New Price Targets

PNR has been the topic of several recent analyst reports. KeyCorp boosted their price objective on shares of Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays boosted their price target on Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Oppenheimer raised their price objective on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Pentair in a report on Thursday, November 21st. Finally, Stifel Nicolaus raised their price target on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and an average target price of $106.38.

Insider Activity at Pentair

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

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.