Norinchukin Bank The Purchases 690 Shares of Pentair plc (NYSE:PNR)

Norinchukin Bank The boosted its holdings in shares of Pentair plc (NYSE:PNR) by 10.0% during the 4th quarter, Holdings Channel reports. The fund owned 7,600 shares of the industrial products company’s stock after buying an additional 690 shares during the period. Norinchukin Bank The’s holdings in Pentair were worth $765,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Pentair by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 20,216,366 shares of the industrial products company’s stock valued at $2,034,575,000 after purchasing an additional 148,031 shares in the last quarter. FMR LLC lifted its holdings in Pentair by 7.0% during the fourth quarter. FMR LLC now owns 6,101,253 shares of the industrial products company’s stock worth $614,030,000 after buying an additional 396,581 shares during the period. Geode Capital Management LLC boosted its position in Pentair by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 4,086,763 shares of the industrial products company’s stock valued at $410,240,000 after acquiring an additional 87,244 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Pentair by 37.0% in the 4th quarter. Bessemer Group Inc. now owns 1,283,164 shares of the industrial products company’s stock valued at $129,137,000 after acquiring an additional 346,843 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Pentair by 0.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,010,068 shares of the industrial products company’s stock worth $101,653,000 after purchasing an additional 7,434 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PNR. Robert W. Baird upgraded shares of Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 target price for the company in a report on Tuesday, March 25th. Barclays cut their price target on shares of Pentair from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Citigroup decreased their price target on Pentair from $118.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, KeyCorp restated a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Pentair Stock Performance

Shares of NYSE PNR opened at $78.79 on Tuesday. Pentair plc has a 1 year low of $72.63 and a 1 year high of $110.71. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The company’s fifty day moving average price is $87.43 and its 200 day moving average price is $97.12. The company has a market capitalization of $13.00 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The firm had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.87 EPS. On average, research analysts predict that Pentair plc will post 4.77 earnings per share for the current year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair’s payout ratio is presently 26.74%.

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.