Mitsubishi UFJ Asset Management Co. Ltd. Purchases 20,911 Shares of Pentair plc $PNR

Key Points

• Mitsubishi UFJ Asset Management increased its Pentair stake by 5.6% in the fourth quarter, buying 20,911 more shares and bringing its total holdings to 395,183 shares worth about $41.7 million.
• Pentair’s latest earnings beat expectations, with quarterly EPS of $1.22 versus the $1.17 consensus and revenue of $1.04 billion, up 2.6% from a year earlier.
• Analysts remain mixed on PNR after several price-target cuts; the stock currently has an average “Hold” rating and an average price target of $107.86, while Pentair also announced a quarterly dividend of $0.27 per share.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Pentair plc (NYSE:PNR - Free Report) by 5.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 395,183 shares of the industrial products company's stock after acquiring an additional 20,911 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.24% of Pentair worth $41,680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PNR. Wexford Capital LP bought a new position in shares of Pentair during the 3rd quarter worth $26,000. Richardson Financial Services Inc. grew its stake in shares of Pentair by 64.9% during the 3rd quarter. Richardson Financial Services Inc. now owns 249 shares of the industrial products company's stock worth $28,000 after acquiring an additional 98 shares during the period. Root Financial Partners LLC bought a new position in shares of Pentair during the 3rd quarter worth $41,000. CoreCap Advisors LLC grew its stake in shares of Pentair by 58.8% during the 3rd quarter. CoreCap Advisors LLC now owns 405 shares of the industrial products company's stock worth $45,000 after acquiring an additional 150 shares during the period. Finally, Clearstead Advisors LLC grew its stake in shares of Pentair by 86.4% during the 3rd quarter. Clearstead Advisors LLC now owns 440 shares of the industrial products company's stock worth $49,000 after acquiring an additional 204 shares during the period. Institutional investors own 92.37% of the company's stock.

Insider Activity

In other Pentair news, Director Michael T. Speetzen sold 7,000 shares of the firm's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $99.99, for a total value of $699,930.00. Following the sale, the director owned 8,290 shares of the company's stock, valued at $828,917.10. This trade represents a 45.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Philip M. Rolchigo sold 6,493 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $103.22, for a total value of $670,207.46. Following the completion of the sale, the executive vice president directly owned 29,096 shares in the company, valued at approximately $3,003,289.12. The trade was a 18.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PNR. Citigroup cut their price target on Pentair from $112.00 to $106.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. Barclays cut their target price on Pentair from $95.00 to $92.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 29th. Bank of America cut their target price on Pentair from $100.00 to $88.00 and set an "underperform" rating for the company in a research note on Monday, April 20th. TD Cowen cut their target price on Pentair from $90.00 to $75.00 and set a "sell" rating for the company in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $125.00 target price (down from $135.00) on shares of Pentair in a research note on Tuesday, March 31st. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $107.86.

Pentair Stock Performance

NYSE:PNR opened at $76.79 on Friday. The business's 50-day moving average price is $89.15 and its two-hundred day moving average price is $99.17. Pentair plc has a twelve month low of $76.69 and a twelve month high of $113.95. The stock has a market cap of $12.41 billion, a P/E ratio of 18.82, a PEG ratio of 1.34 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.88 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.05. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the firm posted $1.11 EPS. The company's revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Pentair plc will post 5.35 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 annualized dividend and a dividend yield of 1.4%. Pentair's dividend payout ratio (DPR) is presently 26.47%.

Pentair Profile

Pentair plc NYSE: PNR is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair's offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.

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