Pentair plc (NYSE:PNR) Holdings Lifted by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its holdings in Pentair plc (NYSE:PNR) by 596.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,069 shares of the industrial products company’s stock after acquiring an additional 76,273 shares during the period. Mizuho Securities USA LLC owned about 0.05% of Pentair worth $8,710,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Harbour Investments Inc. lifted its position 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 worth $644,000 after purchasing an additional 636 shares in the last quarter. Cetera Investment Advisers increased its stake in Pentair by 222.8% in the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock valued at $4,328,000 after buying an additional 34,959 shares during the period. Swedbank AB lifted its position in Pentair by 0.9% in the 2nd quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock worth $87,885,000 after buying an additional 10,000 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Pentair during the 2nd quarter valued at $631,000. Finally, Intech Investment Management LLC grew its holdings in shares of Pentair by 63.5% during the 1st quarter. Intech Investment Management LLC now owns 18,427 shares of the industrial products company’s stock valued at $1,574,000 after acquiring an additional 7,157 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pentair

In other Pentair 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 completion of the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PNR. Oppenheimer increased their price objective on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen lifted their price target on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. KeyCorp boosted their price target on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price objective on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of 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 ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.13.

Pentair Price Performance

Shares of NYSE:PNR opened at $105.92 on Friday. The business’s 50 day moving average is $97.70 and its 200-day 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 firm 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 1-year low of $62.04 and a 1-year 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, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 EPS. Sell-side analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s payout ratio is 23.00%.

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.