Mizuho Markets Americas LLC Trims Holdings in Pentair plc (NYSE:PNR)

Mizuho Markets Americas LLC cut its stake in Pentair plc (NYSE:PNR) by 15.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,303 shares of the industrial products company’s stock after selling 11,874 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Pentair were worth $6,582,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale boosted its holdings in shares of Pentair by 352.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after purchasing an additional 1,228,635 shares in the last quarter. Swedbank AB purchased a new stake in Pentair in the 1st quarter worth approximately $97,083,000. Massachusetts Financial Services Co. MA lifted its holdings in Pentair by 91.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after buying an additional 996,325 shares during the period. Interval Partners LP lifted its holdings in Pentair by 289.6% in the 2nd quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after buying an additional 710,703 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Pentair by 44.7% in the 2nd quarter. AQR Capital Management LLC now owns 672,870 shares of the industrial products company’s stock worth $51,589,000 after acquiring an additional 207,830 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Stock Up 0.1 %

Pentair stock opened at $105.92 on Friday. The firm has a market cap of $17.50 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 1.90 and a beta of 1.19. The stock has a fifty day simple moving average of $97.70 and a two-hundred day simple moving average of $87.25. Pentair plc has a 12 month low of $62.04 and a 12 month high of $107.78. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to the consensus estimate 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 period last year, the business posted $0.94 EPS. Equities analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently declared 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 of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.87%. Pentair’s dividend payout ratio (DPR) is currently 23.00%.

Insider Transactions at Pentair

In related 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PNR shares. Oppenheimer increased their target price on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays increased their target price on Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. UBS Group raised their price objective on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.13.

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.