Mirae Asset Global Investments Co. Ltd. Has $2.74 Million Stock Holdings in Pentair plc (NYSE:PNR)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Pentair plc (NYSE:PNR) by 22.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,090 shares of the industrial products company’s stock after purchasing an additional 5,051 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Pentair were worth $2,737,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Quarry LP increased its position in shares of Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 134 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 294 shares during the period. Eastern Bank grew its position in Pentair by 144.9% during the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 300 shares in the last quarter. Blue Trust Inc. raised its stake in Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 327 shares during the period. Finally, Friedenthal Financial acquired a new stake in Pentair during the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Oppenheimer lifted their price target on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. TD Cowen lifted their target price on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wolfe Research initiated coverage on shares of Pentair in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price target for the company. Citigroup lowered their price objective on shares of Pentair from $126.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Barclays increased their target price on shares of Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and an average target price of $111.25.

Pentair Price Performance

NYSE PNR opened at $97.88 on Monday. The firm has a market cap of $16.17 billion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. The stock’s 50-day moving average is $102.88 and its two-hundred day moving average is $97.41. Pentair plc has a fifty-two week low of $72.44 and a fifty-two week high of $110.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.91.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.06. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The firm had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. During the same period in the previous year, the company earned $0.87 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts anticipate that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Pentair Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were paid a $0.25 dividend. The ex-dividend date was Friday, January 24th. This is a positive change from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. Pentair’s dividend payout ratio (DPR) is presently 26.74%.

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.