Nisa Investment Advisors LLC Makes New $1.98 Million Investment in Pentair plc $PNR

Key Points

• Nisa Investment Advisors acquired 37,318 Pentair shares worth approximately $1.98 million, while institutional investors collectively own 92.37% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $76.19 price target after several firms lowered their targets.
• Pentair shares opened at $55.30, near their 52-week low, as quarterly revenue fell 17% year over year despite earnings slightly exceeding estimates. The company declared a quarterly dividend of $0.27 per share, representing a 2.0% yield.

Nisa Investment Advisors LLC purchased a new position in Pentair plc (NYSE:PNR - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,318 shares of the industrial products company's stock, valued at approximately $1,977,000.

Several other institutional investors have also recently made changes to their positions in the company. Amundi boosted its stake in Pentair by 13.1% during the first quarter. Amundi now owns 4,237,659 shares of the industrial products company's stock valued at $369,208,000 after buying an additional 491,758 shares during the period. Hsbc Holdings PLC increased its stake in Pentair by 1,459.8% in the 1st quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company's stock worth $110,617,000 after acquiring an additional 1,189,122 shares during the last quarter. First Trust Advisors LP increased its stake in Pentair by 52.9% in the 1st quarter. First Trust Advisors LP now owns 1,215,064 shares of the industrial products company's stock worth $105,844,000 after acquiring an additional 420,140 shares during the last quarter. California Public Employees Retirement System increased its stake in Pentair by 57.2% in the 1st quarter. California Public Employees Retirement System now owns 503,272 shares of the industrial products company's stock worth $43,840,000 after acquiring an additional 183,089 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Pentair by 7.1% in the 1st quarter. Swiss National Bank now owns 480,287 shares of the industrial products company's stock valued at $41,838,000 after acquiring an additional 31,900 shares in the last quarter. Institutional investors own 92.37% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stifel Nicolaus reiterated a "hold" rating and set a $65.00 price target (down from $103.00) on shares of Pentair in a research report on Thursday, July 16th. TD Cowen upgraded shares of Pentair from a "sell" rating to a "hold" rating and decreased their price objective for the stock from $65.00 to $55.00 in a research report on Wednesday, October 14th. Mizuho decreased their price objective on shares of Pentair from $85.00 to $65.00 and set an "outperform" rating on the stock in a research report on Thursday, October 15th. Citigroup lowered their target price on shares of Pentair from $85.00 to $69.00 and set a "buy" rating on the stock in a research note on Monday, October 12th. Finally, BNP Paribas Exane reiterated an "underperform" rating and set a $64.00 target price (down from $75.00) on shares of Pentair in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $76.19.

Pentair Stock Down 0.0%

Shares of NYSE:PNR opened at $55.30 on Monday. The firm has a market capitalization of $8.83 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.76 and a current ratio of 1.45. Pentair plc has a 52-week low of $51.13 and a 52-week high of $111.94. The firm has a fifty day moving average of $56.82 and a 200 day moving average of $68.64.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.02. Pentair had a return on equity of 20.62% and a net margin of 16.24%. The business had revenue of $932.60 million for the quarter, compared to the consensus estimate of $943.24 million. During the same quarter last year, the business posted $1.39 earnings per share. The company's revenue for the quarter was down 17.0% on a year-over-year basis. As a group, research analysts anticipate that Pentair plc will post 4.63 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 23rd will be given a dividend of $0.27 per share. The ex-dividend date is Friday, October 23rd. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. Pentair's dividend payout ratio is 27.14%.

About Pentair

Pentair plc NYSE: PNR is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.

Want to see what other hedge funds are holding PNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pentair plc (NYSE:PNR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.