Mizuho Securities USA LLC Has $8.71 Million Stake in Pentair plc (NYSE:PNR)

Mizuho Securities USA LLC lifted its holdings in shares of Pentair plc (NYSE:PNR) by 596.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 89,069 shares of the industrial products company’s stock after purchasing an additional 76,273 shares during the period. Mizuho Securities USA LLC’s holdings in Pentair were worth $8,710,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNR. CIBC Asset Management Inc grew its holdings in Pentair by 9.3% during the 3rd quarter. CIBC Asset Management Inc now owns 19,329 shares of the industrial products company’s stock worth $1,890,000 after acquiring an additional 1,640 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Pentair by 8.0% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,530 shares of the industrial products company’s stock worth $639,000 after purchasing an additional 481 shares in the last quarter. Aptus Capital Advisors LLC bought a new stake in shares of Pentair during the third quarter valued at approximately $200,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Pentair by 1.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 420,887 shares of the industrial products company’s stock valued at $41,159,000 after purchasing an additional 6,943 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of Pentair by 10.7% in the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock valued at $644,000 after purchasing an additional 636 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Performance

Shares of Pentair stock opened at $105.92 on Friday. The stock’s fifty day simple moving average is $97.70 and its 200 day simple moving average is $87.31. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $17.50 billion, a PE ratio of 26.48, a PEG ratio of 1.89 and a beta of 1.19. Pentair plc has a 12 month low of $62.04 and a 12 month high of $107.78.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same period in the prior year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, research analysts predict that Pentair plc will post 4.28 EPS for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Analysts Set New Price Targets

A number of brokerages have commented on PNR. Stifel Nicolaus increased their price objective on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. UBS Group lifted their price objective on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Mizuho lifted their price target on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $105.13.

Insider Transactions at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.

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.