Dai ichi Life Insurance Company Ltd Boosts Position in Pentair plc (NYSE:PNR)

Dai ichi Life Insurance Company Ltd lifted its position in Pentair plc (NYSE:PNR) by 35.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 38,000 shares of the industrial products company’s stock after purchasing an additional 10,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Pentair were worth $2,763,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Pentair by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock valued at $1,287,364,000 after acquiring an additional 204,416 shares in the last quarter. Impax Asset Management Group plc increased its holdings in shares of Pentair by 1.3% in the 4th quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock worth $718,440,000 after buying an additional 131,745 shares during the last quarter. Northern Trust Corp raised its position in shares of Pentair by 6.0% during the 3rd quarter. Northern Trust Corp now owns 1,724,390 shares of the industrial products company’s stock valued at $111,654,000 after buying an additional 98,175 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Pentair by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,377,786 shares of the industrial products company’s stock worth $100,179,000 after acquiring an additional 16,875 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in Pentair by 7.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,083,616 shares of the industrial products company’s stock valued at $70,164,000 after acquiring an additional 79,585 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PNR has been the subject of several research reports. Mizuho upped their target price on Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. TD Cowen upped their price target on shares of Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Citigroup increased their target price on Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, UBS Group boosted their price objective on Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.93.

Insider Activity at Pentair

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total value of $2,089,884.15. Following the sale, the chief executive officer now directly owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Pentair Stock Down 0.2 %

Shares of NYSE:PNR traded down $0.15 during trading on Friday, hitting $82.38. The stock had a trading volume of 38,159 shares, compared to its average volume of 1,528,995. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.63. Pentair plc has a 12 month low of $55.26 and a 12 month high of $85.84. The company has a market capitalization of $13.68 billion, a PE ratio of 21.95, a PEG ratio of 1.45 and a beta of 1.24. The firm’s fifty day moving average is $82.08 and its 200 day moving average is $74.78.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts anticipate that Pentair plc will post 4.24 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a $0.23 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.12%. Pentair’s dividend payout ratio is currently 24.47%.

About Pentair

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.