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

Nomura Asset Management Co. Ltd. reduced its holdings in Pentair plc (NYSE:PNR - Free Report) by 6.2% during the third quarter, according to the company in its most recent 13F 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. owned about 0.77% of Pentair worth $124,116,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Harbour Investments Inc. boosted its holdings in Pentair by 10.7% in the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company's stock valued at $644,000 after acquiring an additional 636 shares in the last quarter. Swedbank AB boosted its stake in shares of Pentair by 0.9% during the 2nd quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company's stock valued at $87,885,000 after purchasing an additional 10,000 shares in the last quarter. ORG Partners LLC purchased a new position in shares of Pentair during the second quarter valued at about $631,000. FMR LLC raised its stake in Pentair by 4.7% in the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company's stock worth $557,860,000 after buying an additional 258,134 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in Pentair in the third quarter worth about $479,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Stock Performance

NYSE:PNR traded down $0.45 on Monday, hitting $107.66. The stock had a trading volume of 436,225 shares, compared to its average volume of 1,522,366. The business's 50-day simple moving average is $102.04 and its two-hundred day simple moving average is $89.96. The stock has a market cap of $17.79 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. Pentair plc has a 52-week low of $66.77 and a 52-week 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.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same quarter last year, the firm posted $0.94 earnings per share. The firm's revenue was down 1.5% compared to the same quarter last year. As a group, research analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.23 per share. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.85%. Pentair's dividend payout ratio (DPR) is presently 23.00%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Oppenheimer increased their target price on Pentair from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Wolfe Research began coverage on Pentair in a report on Tuesday, November 26th. They issued an "outperform" rating and a $125.00 price objective for the company. Mizuho boosted their target price on shares of Pentair from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. UBS Group increased their price target on shares of Pentair from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, 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 note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $107.13.

Insider Activity at Pentair

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

Pentair Company 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.