Mirae Asset Global Investments Co. Ltd. Boosts Stake in Pentair plc (NYSE:PNR)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 8.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 29,500 shares of the industrial products company's stock after purchasing an additional 2,410 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Pentair were worth $2,562,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PNR. Assenagon Asset Management S.A. boosted its holdings in Pentair by 229.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 786,362 shares of the industrial products company's stock worth $68,791,000 after acquiring an additional 547,419 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Pentair by 27.9% in the 4th 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 grew its holdings in shares of 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 valued at $60,863,000 after acquiring an additional 415,163 shares in the last quarter. FMR LLC increased its position in shares of Pentair by 7.0% during the fourth quarter. FMR LLC now owns 6,101,253 shares of the industrial products company's stock valued at $614,030,000 after acquiring an additional 396,581 shares during the last quarter. Finally, Norges Bank bought a new stake in Pentair during the fourth quarter worth $36,568,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pentair

In related news, Director David A. /Wi Jones sold 6,558 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the sale, the director directly owned 26,313 shares of the company's stock, valued at approximately $2,366,591.22. This represents a 19.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Pentair Trading Up 1.0%

Shares of PNR stock traded up $1.01 during trading hours on Thursday, reaching $106.87. The company's stock had a trading volume of 1,008,548 shares, compared to its average volume of 1,462,190. The company has a current ratio of 1.89, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. Pentair plc has a one year low of $73.45 and a one year high of $110.71. The stock has a market capitalization of $17.58 billion, a P/E ratio of 27.62, a P/E/G ratio of 2.03 and a beta of 1.09. The firm's fifty day simple moving average is $97.53 and its 200 day simple moving average is $95.02.

Pentair (NYSE:PNR - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.10. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $988.38 million. Pentair had a return on equity of 21.24% and a net margin of 15.87%. During the same quarter in the prior year, the business earned $0.94 EPS. Equities research analysts expect that Pentair plc will post 4.77 EPS for the current year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.94%. Pentair's dividend payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup reduced their price target on shares of Pentair from $118.00 to $98.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group reduced their target price on shares of Pentair from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of Pentair from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Royal Bank Of Canada upped their price objective on Pentair from $99.00 to $101.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Finally, Robert W. Baird decreased their target price on Pentair from $114.00 to $107.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $107.14.

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.