Envestnet Asset Management Inc. Purchases 14,937 Shares of Pentair plc (NYSE:PNR)

Envestnet Asset Management Inc. lifted its position in shares of Pentair plc (NYSE:PNR) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 279,206 shares of the industrial products company’s stock after acquiring an additional 14,937 shares during the period. Envestnet Asset Management Inc. owned approximately 0.17% of Pentair worth $21,407,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in shares of Pentair in the second quarter worth $25,000. Crewe Advisors LLC raised its position 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 buying an additional 267 shares during the last quarter. Family Firm Inc. bought a new position in Pentair during the 2nd quarter valued at about $48,000. LRI Investments LLC purchased a new stake in shares of Pentair during the 1st quarter valued at about $56,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Pentair by 24.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 173 shares during the period. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PNR. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Oppenheimer increased their price target on Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Stifel Nicolaus lifted their price objective on Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group raised their target price on Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.87.

Pentair Stock Performance

Shares of NYSE PNR opened at $94.80 on Monday. The stock has a market cap of $15.69 billion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 1.68 and a beta of 1.20. Pentair plc has a 1 year low of $57.18 and a 1 year high of $95.87. The firm has a fifty day moving average price of $86.02 and a 200-day moving average price of $82.39. 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 results on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. Equities analysts anticipate 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.