Rakuten Investment Management Inc. Purchases New Shares in Pentair plc $PNR

Key Points

• Rakuten Investment Management initiated a position in Pentair, buying 18,274 shares worth approximately $977,000 in the third quarter. Institutional investors collectively own 92.37% of the company.
• Analyst views are mixed: the consensus rating is Hold, with an average price target of $76.59; Oppenheimer and Mizuho recently lowered their targets while retaining Outperform ratings.
• Pentair beat quarterly earnings and revenue expectations, reporting EPS of $1.18 and revenue of $976.4 million, though revenue declined 4.5% year over year. It also paid a quarterly dividend of $0.27 per share.

Rakuten Investment Management Inc. acquired a new position in Pentair plc (NYSE:PNR - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,274 shares of the industrial products company's stock, valued at approximately $977,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PNR. Prescott Group Capital Management L.L.C. purchased a new stake in Pentair during the 3rd quarter valued at $887,000. Mountain Pacific Investment Advisers LLC purchased a new stake in Pentair during the third quarter valued at approximately $1,505,000. Oregon Public Employees Retirement Fund bought a new position in Pentair in the third quarter worth approximately $1,042,000. ARGA Investment Management LP bought a new position in Pentair in the third quarter worth approximately $1,502,000. Finally, Next Level Wealth Planning LLC purchased a new position in shares of Pentair during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 92.37% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Oppenheimer lowered their target price on Pentair from $94.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 21st. Zacks Research raised Pentair from a "strong sell" rating to a "hold" rating in a research note on Wednesday, October 7th. Mizuho lowered their price objective on Pentair from $85.00 to $65.00 and set an "outperform" rating on the stock in a research report on Thursday, October 15th. The Goldman Sachs Group set a $66.00 target price on shares of Pentair in a research note on Wednesday, October 28th. Finally, William Blair set a $50.00 price target on shares of Pentair in a report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $76.59.

Pentair Stock Down 2.4%

Shares of NYSE:PNR opened at $68.11 on Friday. The stock has a market cap of $10.87 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.60 and a beta of 1.01. The company has a quick ratio of 0.77, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. Pentair plc has a 52-week low of $51.13 and a 52-week high of $109.89. The business's 50 day moving average is $57.45 and its 200 day moving average is $75.57.

Pentair (NYSE:PNR - Get Free Report) last posted its earnings results on Tuesday, October 27th. The industrial products company reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.11. The company had revenue of $976.40 million during the quarter, compared to analyst estimates of $963.71 million. Pentair had a return on equity of 20.10% and a net margin of 15.44%. Pentair's revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.24 earnings per share. Sell-side analysts predict that Pentair plc will post 4.70 EPS for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 6th. Shareholders of record on Friday, October 23rd were paid a $0.27 dividend. The ex-dividend date was Friday, October 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.6%. Pentair's dividend payout ratio (DPR) is 28.65%.

Pentair Company Profile

Pentair plc is a water solutions company that develops and supplies products and services for managing, treating and moving water. Its offerings include water filtration and treatment systems, pumps, valves and related equipment for residential, commercial, industrial and agricultural customers.

The company also serves the pool and spa market, providing equipment and systems such as pumps, filters, heaters and water-care products. Pentair serves customers in markets around the world.

Founded in 1966, Pentair has evolved from its origins as a diversified manufacturer into a company focused on water-related businesses.

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