MQS Management LLC Buys 437 Shares of Pentair plc (NYSE:PNR)

MQS Management LLC boosted its position in shares of Pentair plc (NYSE:PNR) by 16.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,150 shares of the industrial products company’s stock after acquiring an additional 437 shares during the period. MQS Management LLC’s holdings in Pentair were worth $242,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Pentair by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock valued at $610,000 after acquiring an additional 121 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Pentair by 3.9% in the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after purchasing an additional 128 shares during the period. Fifth Third Bancorp raised its holdings in shares of Pentair by 3.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after buying an additional 129 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Pentair by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after buying an additional 139 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its stake in Pentair by 4.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock valued at $304,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PNR. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Oppenheimer upped their price objective on shares of Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price objective on shares of Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Barclays increased their price target on Pentair from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group raised 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’s stock. According to MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.87.

Pentair Price Performance

Shares of PNR stock opened at $94.80 on Friday. The firm’s 50 day moving average price is $86.02 and its two-hundred day moving average price is $82.37. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65. Pentair plc has a 52-week low of $57.18 and a 52-week high of $95.87. The stock has a market cap of $15.69 billion, a PE ratio of 25.21, a PEG ratio of 1.68 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $1.03 EPS. The firm’s revenue was up 1.6% on a year-over-year basis. As a group, analysts forecast that Pentair plc will post 4.25 EPS for the current year.

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.