Nomura Asset Management Co. Ltd. Sells 42,919 Shares of Pentair plc $PNR

Nomura Asset Management Co. Ltd. trimmed its holdings in shares of Pentair plc (NYSE:PNR) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 918,190 shares of the industrial products company’s stock after selling 42,919 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.56% of Pentair worth $95,620,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. MUFG Securities EMEA plc raised its stake in shares of Pentair by 114.4% during the 4th quarter. MUFG Securities EMEA plc now owns 6,728 shares of the industrial products company’s stock worth $701,000 after purchasing an additional 3,590 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Pentair by 24.6% during the 4th quarter. BNP Paribas Financial Markets now owns 526,258 shares of the industrial products company’s stock worth $54,805,000 after purchasing an additional 103,747 shares during the period. Norges Bank bought a new stake in shares of Pentair during the 4th quarter worth $36,798,000. National Pension Service raised its stake in shares of Pentair by 20.9% during the 4th quarter. National Pension Service now owns 60,849 shares of the industrial products company’s stock worth $6,337,000 after purchasing an additional 10,528 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Pentair during the 4th quarter worth $212,000. 92.37% of the stock is currently owned by institutional investors.

Pentair Trading Down 0.6%

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

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

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 annualized dividend and a yield of 1.5%. Pentair’s dividend payout ratio (DPR) is 26.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PNR shares. Weiss Ratings cut Pentair from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. TD Cowen lowered their target price on Pentair from $90.00 to $75.00 and set a “sell” rating on the stock in a research note on Wednesday, April 29th. Jefferies Financial Group reiterated a “buy” rating and set a $125.00 target price (down from $135.00) on shares of Pentair in a research note on Tuesday, March 31st. Stifel Nicolaus decreased their price objective on Pentair from $110.00 to $103.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Finally, Oppenheimer decreased their price objective on Pentair from $122.00 to $115.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Pentair currently has a consensus rating of “Hold” and a consensus target price of $107.86.

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.