Pentair plc (NYSE:PNR) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Pentair plc (NYSE:PNR) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,365 shares of the industrial products company’s stock after acquiring an additional 380 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Pentair were worth $1,949,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Pentair by 22.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,090 shares of the industrial products company’s stock valued at $2,737,000 after purchasing an additional 5,051 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in Pentair during the fourth quarter worth about $289,000. Longboard Asset Management LP purchased a new position in Pentair in the fourth quarter valued at about $209,000. GEN Financial Management INC. acquired a new stake in shares of Pentair during the 4th quarter valued at approximately $446,000. Finally, Spire Wealth Management purchased a new stake in shares of Pentair during the 4th quarter worth approximately $64,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PNR has been the subject of several research analyst reports. The Goldman Sachs Group raised their price objective on 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 restated an “outperform” rating and issued a $115.00 price target on shares of Pentair in a research report on Thursday, November 21st. Robert W. Baird increased their price objective on shares of Pentair from $106.00 to $114.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Stifel Nicolaus cut their target price on shares of Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, KeyCorp reaffirmed a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $111.25.

Pentair Price Performance

Shares of NYSE:PNR opened at $98.40 on Tuesday. The company has a market cap of $16.26 billion, a P/E ratio of 26.31, a P/E/G ratio of 1.93 and a beta of 1.20. The business has a fifty day simple moving average of $102.66 and a 200-day simple moving average of $97.50. Pentair plc has a 52 week low of $72.44 and a 52 week high of $110.71. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.46.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.02 by $0.06. The company had revenue of $972.90 million during the quarter, compared to analysts’ expectations of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 EPS. Equities research analysts forecast that Pentair plc will post 4.77 EPS for the current year.

Pentair Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. This is an increase from Pentair’s previous quarterly dividend of $0.23. Pentair’s dividend payout ratio (DPR) is currently 26.74%.

Pentair Company 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.