Asset Management One Co. Ltd. Purchases 3,476 Shares of Pentair plc (NYSE:PNR)

Asset Management One Co. Ltd. raised its position in shares of Pentair plc (NYSE:PNR - Free Report) by 4.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,337 shares of the industrial products company's stock after buying an additional 3,476 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Pentair were worth $6,590,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PNR. Assenagon Asset Management S.A. increased its holdings in Pentair by 229.1% in the first quarter. Assenagon Asset Management S.A. now owns 786,362 shares of the industrial products company's stock worth $68,791,000 after buying an additional 547,419 shares during the last quarter. Northern Trust Corp increased its holdings in Pentair by 27.9% in the fourth quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company's stock worth $197,482,000 after buying an additional 428,184 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Pentair by 219.0% in the fourth quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company's stock worth $60,863,000 after buying an additional 415,163 shares during the last quarter. FMR LLC increased its holdings in Pentair by 7.0% in 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 last quarter. Finally, Norges Bank acquired a new position in Pentair in the fourth quarter worth approximately $36,568,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PNR has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded Pentair from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $90.00 to $113.00 in a report on Friday, May 16th. Wall Street Zen upgraded Pentair from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Citigroup lowered their price target on Pentair from $118.00 to $98.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Robert W. Baird lowered their price target on Pentair from $114.00 to $107.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Mizuho set a $100.00 price target on Pentair in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $107.14.

Insider Activity

In related news, Director David A. /Wi Jones sold 6,558 shares of the firm's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $89.94, for a total value of $589,826.52. Following the completion of the transaction, the director directly owned 26,313 shares of the company's stock, valued at $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.45% of the company's stock.

Pentair Stock Performance

Shares of Pentair stock traded up $2.19 during midday trading on Tuesday, hitting $104.85. The company had a trading volume of 1,691,318 shares, compared to its average volume of 1,464,936. The business's 50 day simple moving average is $97.17 and its two-hundred day simple moving average is $94.94. The stock has a market cap of $17.25 billion, a PE ratio of 27.09, a P/E/G ratio of 1.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.89 and a quick ratio of 1.22. Pentair plc has a 1-year low of $73.45 and a 1-year high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.10. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $988.38 million. Pentair had a net margin of 15.87% and a return on equity of 21.24%. During the same quarter last year, the company posted $0.94 earnings per share. As a group, equities analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a $0.25 dividend. The ex-dividend date is Friday, July 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. Pentair's payout ratio is 25.84%.

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.