Pentair plc (NYSE:PNR) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in shares of Pentair plc (NYSE:PNR) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,392 shares of the industrial products company’s stock after selling 1,582 shares during the period. Federated Hermes Inc. owned approximately 0.08% of Pentair worth $9,614,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Pentair in the 2nd quarter worth about $25,000. Crewe Advisors LLC increased its stake in Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Family Firm Inc. purchased a new position in Pentair during the 2nd quarter valued at about $48,000. LRI Investments LLC purchased a new position in Pentair during the 1st quarter valued at about $56,000. Finally, EverSource Wealth Advisors LLC grew its stake in Pentair by 24.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 173 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Stock Up 1.0 %

PNR opened at $93.91 on Wednesday. The business has a 50 day moving average price of $84.64 and a 200 day moving average price of $81.94. Pentair plc has a twelve month low of $57.18 and a twelve month high of $94.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65. The firm has a market cap of $15.54 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 1.64 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company earned $1.03 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Research analysts forecast that Pentair plc will post 4.25 EPS for the current year.

Analyst Ratings Changes

PNR has been the topic of several research analyst reports. Stifel Nicolaus lifted their target price on Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. KeyCorp lifted their target price on Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group lifted 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. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $92.87.

About Pentair

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.