Daiwa Securities Group Inc. Has $5.86 Million Stock Position in Pentair plc (NYSE:PNR)

Daiwa Securities Group Inc. boosted its holdings in Pentair plc (NYSE:PNR) by 30.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 59,880 shares of the industrial products company’s stock after acquiring an additional 14,057 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Pentair were worth $5,856,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in shares of Pentair during the second quarter worth $25,000. Crewe Advisors LLC increased its holdings in Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Family Firm Inc. bought a new position in Pentair in the second quarter valued at about $48,000. Blue Trust Inc. boosted its stake in shares of Pentair by 165.2% during the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 327 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Pentair during the first quarter worth about $58,000. Institutional investors own 92.37% of the company’s stock.

Pentair Stock Performance

Shares of PNR opened at $109.15 on Wednesday. The firm has a market capitalization of $18.03 billion, a P/E ratio of 27.29, a P/E/G ratio of 1.91 and a beta of 1.19. Pentair plc has a 52 week low of $62.81 and a 52 week high of $109.31. The stock has a 50 day moving average price of $99.68 and a two-hundred day moving average price of $88.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60.

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. The business had revenue of $993.40 million during 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%. Pentair’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share. Equities analysts forecast that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. UBS Group lifted their price target on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wolfe Research initiated coverage on shares of Pentair in a research note on Tuesday. They issued an “outperform” rating and a $125.00 price objective on the stock. Mizuho raised their target price on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, StockNews.com lowered Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and an average target price of $106.38.

Insider Buying and Selling

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred on Friday, November 1st. The shares were 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 of the company’s stock, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.28% of the stock is owned by corporate insiders.

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.