Mirae Asset Global Investments Co. Ltd. Buys 3,671 Shares of Pentair plc (NYSE:PNR)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Pentair plc (NYSE:PNR) by 20.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 22,039 shares of the industrial products company’s stock after purchasing an additional 3,671 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Pentair were worth $2,138,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of Pentair in the second quarter valued at approximately $25,000. Crewe Advisors LLC grew its position in shares of Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. Family Firm Inc. bought a new position in shares of Pentair in the second quarter worth $48,000. Blue Trust Inc. raised its position in shares of Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after buying an additional 327 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Pentair during the first quarter valued at $56,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analysts Set New Price Targets

PNR has been the topic of a number of research analyst reports. Royal Bank of Canada upped their target price on Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Mizuho raised their target price on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. TD Cowen increased their price target on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Barclays lifted their price objective on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Pentair has an average rating of “Moderate Buy” and an average target price of $104.80.

Pentair Stock Up 0.3 %

NYSE PNR opened at $99.37 on Thursday. Pentair plc has a 1 year low of $57.45 and a 1 year high of $101.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The business’s 50-day moving average is $93.40 and its 200 day moving average is $85.21. The stock has a market capitalization of $16.42 billion, a PE ratio of 24.84, a PEG ratio of 1.76 and a beta of 1.20.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. During the same quarter in the previous year, the firm posted $0.94 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts forecast that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, October 18th. Pentair’s dividend payout ratio is presently 23.00%.

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.