Nomura Asset Management Co. Ltd. Trims Position in Pentair plc $PNR

Nomura Asset Management Co. Ltd. lessened its stake in shares of Pentair plc (NYSE:PNR) by 4.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 918,190 shares of the industrial products company’s stock after selling 42,919 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Pentair were worth $95,620,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PNR. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Pentair by 71.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $26,000 after buying an additional 105 shares in the last quarter. Wexford Capital LP purchased a new position in Pentair during the 3rd quarter valued at about $26,000. Park Square Financial Group LLC grew its holdings in Pentair by 502.8% during the 4th quarter. Park Square Financial Group LLC now owns 434 shares of the industrial products company’s stock valued at $44,000 after buying an additional 362 shares in the last quarter. Clearstead Advisors LLC grew its holdings in Pentair by 86.4% during the 3rd quarter. Clearstead Advisors LLC now owns 440 shares of the industrial products company’s stock valued at $49,000 after buying an additional 204 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in Pentair during the 2nd quarter valued at about $50,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Royal Bank Of Canada reduced their target price on Pentair from $107.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Seaport Research Partners dropped their price target on Pentair from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Bank of America dropped their price target on Pentair from $100.00 to $88.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. Barclays dropped their price target on Pentair from $95.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. Finally, Stifel Nicolaus dropped their price target on Pentair from $110.00 to $103.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $107.86.

Pentair Stock Performance

Shares of PNR opened at $70.90 on Friday. The company has a market cap of $11.46 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.20 and a beta of 1.10. The company has a current ratio of 1.88, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $82.82 and a 200-day moving average price of $95.38. Pentair plc has a 12-month low of $70.59 and a 12-month high of $113.95.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $1.11 EPS. As a group, equities analysts forecast that Pentair plc will post 5.35 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be given a $0.27 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.08 dividend on an annualized basis and a yield of 1.5%. Pentair’s payout ratio is presently 26.47%.

About Pentair

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.