Pentair plc (NYSE:PNR) Stock Position Decreased by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its holdings in Pentair plc (NYSE:PNR) by 36.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,260 shares of the industrial products company’s stock after selling 13,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Pentair were worth $2,177,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Qsemble Capital Management LP acquired a new position in Pentair during the 3rd quarter valued at approximately $1,469,000. Independent Advisor Alliance boosted its holdings in shares of Pentair by 2.3% during the third quarter. Independent Advisor Alliance now owns 7,525 shares of the industrial products company’s stock valued at $736,000 after acquiring an additional 170 shares during the period. Harvest Fund Management Co. Ltd grew its position in shares of Pentair by 81,975.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 3,283 shares of the industrial products company’s stock worth $321,000 after acquiring an additional 3,279 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Pentair by 1.5% in the 3rd quarter. Fisher Asset Management LLC now owns 140,707 shares of the industrial products company’s stock worth $13,760,000 after acquiring an additional 2,072 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Pentair by 30.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 59,880 shares of the industrial products company’s stock valued at $5,856,000 after purchasing an additional 14,057 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Performance

PNR opened at $108.96 on Thursday. 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 firm has a market cap of $18.00 billion, a PE ratio of 27.24, a P/E/G ratio of 1.92 and a beta of 1.19. The business has a fifty day simple moving average of $99.99 and a 200-day simple moving average of $88.57. Pentair plc has a fifty-two week low of $63.09 and a fifty-two week high of $110.71.

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 analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. Pentair’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $0.94 EPS. As a group, equities analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Friday, October 18th. Pentair’s dividend payout ratio is 23.00%.

Insiders Place Their Bets

In other news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PNR. UBS Group raised their price target on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. KeyCorp increased their price target on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Oppenheimer lifted their price objective on shares of Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.38.

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.