Royal London Asset Management Ltd. Buys 7,283 Shares of Pentair plc (NYSE:PNR)

Royal London Asset Management Ltd. boosted its stake in Pentair plc (NYSE:PNR) by 9.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,233 shares of the industrial products company’s stock after acquiring an additional 7,283 shares during the quarter. Royal London Asset Management Ltd. owned 0.05% of Pentair worth $6,381,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PNR. Kodai Capital Management LP bought a new stake in Pentair during the 4th quarter worth about $173,280,000. DekaBank Deutsche Girozentrale lifted its position in Pentair by 352.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after buying an additional 1,228,635 shares in the last quarter. Swedbank AB bought a new stake in Pentair during the 1st quarter worth about $97,083,000. AMF Tjanstepension AB bought a new stake in Pentair during the 1st quarter worth about $45,096,000. Finally, Goldman Sachs Group Inc. lifted its position in Pentair by 138.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company’s stock worth $60,655,000 after buying an additional 484,810 shares in the last quarter. 92.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PNR. KeyCorp upped their target price on shares of Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Barclays upped their target price on shares of Pentair from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. The Goldman Sachs Group upped their target price on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and an average target price of $92.87.

Pentair Stock Performance

Shares of Pentair stock opened at $91.49 on Friday. The company has a 50 day moving average of $84.28 and a 200-day moving average of $81.76. Pentair plc has a 1-year low of $57.18 and a 1-year high of $92.03. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The company has a market cap of $15.19 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.14 by $0.08. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 EPS. As a group, equities research analysts forecast that Pentair plc will post 4.25 earnings per share for the current fiscal year.

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.