Nisa Investment Advisors LLC Has $5.80 Million Holdings in Pentair plc (NYSE:PNR)

Nisa Investment Advisors LLC lowered its stake in Pentair plc (NYSE:PNR) by 1.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,334 shares of the industrial products company’s stock after selling 699 shares during the period. Nisa Investment Advisors LLC’s holdings in Pentair were worth $5,802,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PNR. State of Alaska Department of Revenue grew its position in Pentair by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 19,235 shares of the industrial products company’s stock worth $1,880,000 after purchasing an additional 1,300 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Pentair by 11.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,489,715 shares of the industrial products company’s stock worth $143,823,000 after buying an additional 158,433 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Pentair by 5.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 85,233 shares of the industrial products company’s stock valued at $8,335,000 after acquiring an additional 4,304 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Pentair by 20.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,039 shares of the industrial products company’s stock valued at $2,138,000 after acquiring an additional 3,671 shares in the last quarter. Finally, Busey Bank lifted its position in shares of Pentair by 68.6% in the 3rd quarter. Busey Bank now owns 159,329 shares of the industrial products company’s stock worth $15,581,000 after acquiring an additional 64,841 shares during the period. Institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Mizuho boosted their price objective on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. The Goldman Sachs Group increased their price objective on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on shares of Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Barclays increased their price target on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Price Performance

Shares of PNR opened at $99.12 on Friday. The stock has a 50 day simple moving average of $93.69 and a 200 day simple moving average of $85.31. Pentair plc has a 52-week low of $57.45 and a 52-week high of $101.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The firm has a market capitalization of $16.38 billion, a PE ratio of 24.78, a P/E/G ratio of 1.76 and a beta of 1.20.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $988.53 million. During the same quarter in the prior year, the company earned $0.94 earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.93%. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

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.