Mizuho Markets Americas LLC Cuts Stake in Pentair plc (NYSE:PNR)

Mizuho Markets Americas LLC lessened its position in shares of Pentair plc (NYSE:PNR) by 15.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,303 shares of the industrial products company’s stock after selling 11,874 shares during the period. Mizuho Markets Americas LLC’s holdings in Pentair were worth $6,582,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in Pentair by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after buying an additional 121 shares during the last quarter. Wedmont Private Capital boosted its stake in shares of Pentair by 3.9% during the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock worth $270,000 after purchasing an additional 128 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Pentair by 3.8% in the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 129 shares during the last quarter. Inspire Advisors LLC boosted its position in shares of Pentair by 1.6% in the third quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock worth $794,000 after acquiring an additional 130 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of Pentair by 0.4% in the second quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after acquiring an additional 139 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PNR shares. Barclays boosted their target price on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Oppenheimer upped their price target on shares of Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday. Mizuho increased their target price on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. KeyCorp upped their price objective on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, UBS Group increased their price target on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $105.13.

Insider Activity

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Pentair Stock Performance

Shares of NYSE PNR opened at $105.92 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The stock’s fifty day moving average price is $97.70 and its two-hundred day moving average price is $87.25. Pentair plc has a one year low of $62.04 and a one year high of $107.78. The firm has a market cap of $17.50 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 1.90 and a beta of 1.19.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm 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 posted $0.94 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. On average, equities analysts forecast that Pentair plc will post 4.28 EPS for the current year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a $0.23 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.87%. Pentair’s dividend payout ratio is presently 23.00%.

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.