Pentair plc (NYSE:PNR) Stock Position Reduced by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. cut its stake in shares of Pentair plc (NYSE:PNR) by 1.6% during the third quarter, HoldingsChannel.com reports. The firm owned 69,495 shares of the industrial products company’s stock after selling 1,103 shares during the period. Asset Management One Co. Ltd.’s holdings in Pentair were worth $6,796,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. National Pension Service lifted its stake in Pentair by 3,588,500.0% in the third quarter. National Pension Service now owns 35,886 shares of the industrial products company’s stock valued at $3,509,000 after acquiring an additional 35,885 shares during the last quarter. Van ECK Associates Corp lifted its stake in Pentair by 11.0% in the third quarter. Van ECK Associates Corp now owns 27,726 shares of the industrial products company’s stock valued at $2,717,000 after acquiring an additional 2,750 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Pentair by 10.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 5,321 shares of the industrial products company’s stock valued at $520,000 after acquiring an additional 484 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Pentair by 0.9% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 363,997 shares of the industrial products company’s stock valued at $35,595,000 after acquiring an additional 3,144 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in Pentair by 13.1% in the third quarter. Pinnacle Associates Ltd. now owns 10,131 shares of the industrial products company’s stock valued at $991,000 after acquiring an additional 1,171 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the sale, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PNR shares. Mizuho lifted their target price on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. KeyCorp lifted their target price on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada boosted their price objective on shares of Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” 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 ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Trading Up 0.0 %

Pentair stock opened at $102.93 on Friday. The business has a 50 day moving average price of $95.46 and a two-hundred day moving average price of $86.17. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The stock has a market cap of $17.01 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. Pentair plc has a 12 month low of $60.15 and a 12 month high of $107.32.

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

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.23 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.89%. Pentair’s dividend payout ratio is currently 23.00%.

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.