NorthRock Partners LLC acquired a new stake in shares of Pentair PLC (NYSE:PNR) during the second quarter, Holdings Channel reports. The fund acquired 4,877 shares of the industrial products company’s stock, valued at approximately $204,000.
Several other hedge funds also recently bought and sold shares of PNR. Wells Fargo & Company MN lifted its position in shares of Pentair by 6.7% during the 1st quarter. Wells Fargo & Company MN now owns 2,601,938 shares of the industrial products company’s stock valued at $177,270,000 after buying an additional 163,138 shares in the last quarter. Rhumbline Advisers lifted its holdings in Pentair by 1.2% in the 1st quarter. Rhumbline Advisers now owns 304,487 shares of the industrial products company’s stock worth $20,745,000 after purchasing an additional 3,571 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in Pentair by 17.3% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 13,253 shares of the industrial products company’s stock worth $903,000 after purchasing an additional 1,952 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Pentair by 3.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,707 shares of the industrial products company’s stock worth $3,727,000 after purchasing an additional 1,800 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Pentair by 344.3% in the 1st quarter. American Century Companies Inc. now owns 45,889 shares of the industrial products company’s stock worth $3,126,000 after purchasing an additional 35,561 shares in the last quarter. 86.37% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on PNR. Robert W. Baird reissued a “hold” rating and issued a $44.00 price target on shares of Pentair in a report on Friday, July 20th. ValuEngine cut Pentair from a “sell” rating to a “strong sell” rating in a report on Tuesday. Zacks Investment Research raised Pentair from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Monday, July 30th. Barclays reissued a “sell” rating and issued a $39.00 price target on shares of Pentair in a report on Thursday, July 26th. Finally, Seaport Global Securities reissued a “buy” rating and issued a $48.00 price target on shares of Pentair in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $57.43.
NYSE:PNR opened at $43.47 on Thursday. 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 1 year low of $41.00 and a 1 year high of $50.25. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.88 and a beta of 1.36.
Pentair (NYSE:PNR) last released its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. Pentair had a return on equity of 15.19% and a net margin of 10.12%. The business had revenue of $780.60 million for the quarter, compared to the consensus estimate of $786.63 million. During the same quarter in the previous year, the company posted $1.00 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. equities analysts expect that Pentair PLC will post 2.31 earnings per share for the current fiscal year.
In other Pentair news, Director Trian Fund Management, L.P. sold 1,700,000 shares of Pentair stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $42.15, for a total value of $71,655,000.00. Following the sale, the director now owns 2,862 shares of the company’s stock, valued at approximately $120,633.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $43,420.14. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.
Pentair Company Profile
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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