Nomura Asset Management Co. Ltd. Sells 79,863 Shares of Pentair plc (NYSE:PNR)

Nomura Asset Management Co. Ltd. cut its position in shares of Pentair plc (NYSE:PNR - Free Report) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,189,345 shares of the industrial products company's stock after selling 79,863 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.72% of Pentair worth $119,696,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP lifted its position in shares of Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 134 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in Pentair by 753.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 294 shares during the period. Eastern Bank lifted its holdings in shares of Pentair by 144.9% in the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 300 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Pentair in the fourth quarter worth $55,000. Finally, Friedenthal Financial purchased a new position in shares of Pentair during the fourth quarter valued at $56,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Northcoast Research raised Pentair from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Barclays lowered their price objective on shares of Pentair from $120.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Citigroup cut their target price on shares of Pentair from $126.00 to $119.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Stifel Nicolaus dropped their price target on shares of Pentair from $126.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Finally, StockNews.com raised Pentair from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Pentair has an average rating of "Moderate Buy" and a consensus target price of $112.27.

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Pentair Stock Performance

PNR stock traded up $0.70 during midday trading on Monday, hitting $87.54. 739,992 shares of the company traded hands, compared to its average volume of 1,464,329. The business has a 50 day simple moving average of $94.54 and a 200-day simple moving average of $98.84. The company has a quick ratio of 0.92, a current ratio of 1.60 and a debt-to-equity ratio of 0.46. Pentair plc has a twelve month low of $72.63 and a twelve month high of $110.71. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23.

Pentair (NYSE:PNR - Get Free Report) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.06. The business had revenue of $972.90 million for the quarter, compared to analyst estimates 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 last year, the business posted $0.87 EPS. As a group, equities research analysts predict that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. Pentair's dividend payout ratio is presently 26.74%.

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.