Oppenheimer & Co. Inc. Decreases Stake in Pentair plc (NYSE:PNR)

Oppenheimer & Co. Inc. lowered its holdings in Pentair plc (NYSE:PNR) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,943 shares of the industrial products company’s stock after selling 8,632 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Pentair were worth $3,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Kodai Capital Management LP purchased a new stake in Pentair during the fourth quarter valued at $173,280,000. DekaBank Deutsche Girozentrale increased its position in Pentair by 352.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after acquiring an additional 1,228,635 shares during the last quarter. KBC Group NV increased its position in Pentair by 49.2% during the fourth quarter. KBC Group NV now owns 1,191,049 shares of the industrial products company’s stock valued at $86,601,000 after acquiring an additional 392,785 shares during the last quarter. Swedbank AB increased its position in Pentair by 0.9% during the second quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock valued at $87,885,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Pentair by 138.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company’s stock valued at $60,655,000 after acquiring an additional 484,810 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Price Performance

NYSE:PNR opened at $91.49 on Monday. The firm has a market capitalization of $15.19 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.59 and a beta of 1.20. Pentair plc has a 1 year low of $57.18 and a 1 year high of $92.03. The business has a 50 day simple moving average of $84.28 and a 200-day simple moving average of $81.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (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 analyst estimates of $1.09 billion. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the company earned $1.03 EPS. Equities analysts forecast that Pentair plc will post 4.25 EPS for the current year.

Wall Street Analysts Forecast Growth

PNR has been the subject of a number of research reports. KeyCorp upped their price objective on Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. The Goldman Sachs Group boosted their price target on Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada boosted their price target on Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.87.

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.