Pentair plc (NYSE:PNR) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Pentair plc (NYSE:PNR - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 328,922 shares of the industrial products company's stock after buying an additional 24,244 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Pentair worth $33,241,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Quarry LP boosted its stake in Pentair by 105.5% during the third quarter. Quarry LP now owns 261 shares of the industrial products company's stock worth $26,000 after buying an additional 134 shares during the last quarter. SJS Investment Consulting Inc. grew its stake in shares of Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company's stock valued at $34,000 after buying an additional 294 shares during the period. Eastern Bank increased its holdings in shares of Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company's stock worth $51,000 after buying an additional 300 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of Pentair during the 4th quarter valued at approximately $56,000. Finally, Intact Investment Management Inc. acquired a new position in Pentair in the fourth quarter valued at approximately $60,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Stock Down 8.3 %

PNR stock traded down $7.37 during trading on Thursday, hitting $81.72. 450,374 shares of the company's stock were exchanged, compared to its average volume of 1,488,937. The business has a 50-day moving average price of $93.57 and a two-hundred day moving average price of $98.73. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $13.47 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.87 and a beta of 1.23. Pentair plc has a 52-week low of $72.63 and a 52-week high of $110.71.

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Pentair (NYSE:PNR - Get Free Report) last issued its earnings results 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 business had revenue of $972.90 million during 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%. The company's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.87 EPS. As a group, equities research analysts expect that Pentair plc will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair's payout ratio is currently 26.74%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PNR shares. KeyCorp reaffirmed a "sector weight" rating and issued a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Citigroup decreased their price objective on shares of Pentair from $126.00 to $119.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Baird R W upgraded Pentair from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 25th. Northcoast Research raised Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Robert W. Baird raised Pentair from a "neutral" rating to an "outperform" rating and set a $114.00 target price on the stock in a research note on Tuesday, March 25th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $112.27.

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.