Canada Pension Plan Investment Board boosted its holdings in Pentair PLC (NYSE:PNR) by 540.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 631,716 shares of the industrial products company’s stock after purchasing an additional 533,100 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Pentair were worth $26,583,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of PNR. Cambridge Investment Research Advisors Inc. grew its stake in Pentair by 39.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,302 shares of the industrial products company’s stock valued at $293,000 after acquiring an additional 1,224 shares during the period. Brinker Capital Inc. grew its stake in Pentair by 6.3% in the first quarter. Brinker Capital Inc. now owns 22,116 shares of the industrial products company’s stock valued at $1,507,000 after acquiring an additional 1,307 shares during the period. Summit Trail Advisors LLC grew its stake in Pentair by 19.9% in the first quarter. Summit Trail Advisors LLC now owns 8,183 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 1,358 shares during the period. World Asset Management Inc grew its stake in Pentair by 11.1% in the second quarter. World Asset Management Inc now owns 13,990 shares of the industrial products company’s stock valued at $589,000 after acquiring an additional 1,396 shares during the period. Finally, Xact Kapitalforvaltning AB grew its stake in Pentair by 8.5% in the first quarter. Xact Kapitalforvaltning AB now owns 17,949 shares of the industrial products company’s stock valued at $1,223,000 after acquiring an additional 1,413 shares during the period. Institutional investors and hedge funds own 87.03% of the company’s stock.
Shares of NYSE:PNR opened at $43.52 on Wednesday. The company has a market cap of $7.51 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.89 and a current ratio of 1.40. Pentair PLC has a 12-month low of $39.70 and a 12-month high of $50.25.
Pentair (NYSE:PNR) last announced its earnings results on Wednesday, July 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The company had revenue of $780.60 million for the quarter, compared to analysts’ expectations of $786.63 million. Pentair had a return on equity of 15.19% and a net margin of 10.12%. Pentair’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 earnings per share. research analysts predict that Pentair PLC will post 2.31 earnings per share for the current fiscal year.
In related news, SVP Ademir Sarcevic sold 1,042 shares of Pentair stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $41.67, for a total transaction of $43,420.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Trian Fund Management, L.P. sold 1,700,000 shares of Pentair stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $42.15, for a total value of $71,655,000.00. Following the transaction, the director now directly owns 2,862 shares in the company, valued at approximately $120,633.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,376,042 shares of company stock worth $145,632,920. 10.70% of the stock is owned by insiders.
PNR has been the subject of a number of research reports. Goldman Sachs Group initiated coverage on Pentair in a research note on Thursday, May 3rd. They issued a “neutral” rating and a $49.00 price objective for the company. Zacks Investment Research cut Pentair from a “hold” rating to a “strong sell” rating in a research note on Friday, May 4th. JPMorgan Chase & Co. reduced their price objective on Pentair from $79.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, May 1st. Barclays reduced their price objective on Pentair from $66.00 to $40.00 and set an “underweight” rating for the company in a research note on Monday, May 14th. Finally, Robert W. Baird reduced their price objective on Pentair from $75.00 to $46.00 and set a “neutral” rating for the company in a research note on Tuesday, May 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. Pentair has a consensus rating of “Hold” and a consensus price target of $57.43.
Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.
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