LPL Financial LLC lifted its position in Pentair plc (NYSE:PNR – Free Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,247 shares of the industrial products company’s stock after buying an additional 2,896 shares during the quarter. LPL Financial LLC’s holdings in Pentair were worth $2,998,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of PNR. Ancora Advisors LLC bought a new stake in Pentair during the first quarter valued at about $56,000. Desjardins Global Asset Management Inc. bought a new position in shares of Pentair during the 1st quarter worth about $107,000. CI Investments Inc. increased its holdings in shares of Pentair by 39.4% during the 4th quarter. CI Investments Inc. now owns 2,506 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 708 shares during the period. ING Groep NV bought a new position in shares of Pentair during the 1st quarter worth about $125,000. Finally, CWM LLC increased its holdings in shares of Pentair by 16.7% during the 1st quarter. CWM LLC now owns 2,382 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 340 shares during the period. Institutional investors and hedge funds own 88.60% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on PNR. Mizuho lifted their price objective on Pentair from $65.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, July 28th. TD Cowen raised their price objective on shares of Pentair from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, August 16th. Oppenheimer raised their price objective on shares of Pentair from $78.00 to $80.00 in a report on Friday, July 28th. Deutsche Bank Aktiengesellschaft started coverage on Pentair in a report on Wednesday, June 28th. They issued a “buy” rating and a $75.00 target price for the company. Finally, Royal Bank of Canada increased their target price on Pentair from $63.00 to $74.00 in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and an average target price of $69.20.
Pentair Stock Performance
Shares of Pentair stock opened at $68.97 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.48 and a quick ratio of 0.77. Pentair plc has a one year low of $38.55 and a one year high of $71.82. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 2.02 and a beta of 1.16. The stock’s 50-day moving average is $67.37 and its 200-day moving average is $60.11.
Pentair (NYSE:PNR – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Pentair had a net margin of 11.82% and a return on equity of 22.39%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $1.02 earnings per share. Equities analysts predict that Pentair plc will post 3.74 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO John L. Stauch sold 32,596 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $71.42, for a total value of $2,328,006.32. Following the sale, the chief executive officer now directly owns 7,690 shares of the company’s stock, valued at approximately $549,219.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.89% of the stock is currently owned by insiders.
Pentair Profile
Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.
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