Pentair plc (NYSE:PNR) Shares Acquired by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Pentair plc (NYSE:PNR) by 6.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,639,547 shares of the industrial products company’s stock after purchasing an additional 105,724 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.99% of Pentair worth $125,704,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. UBS Group AG raised its holdings in shares of Pentair by 5.2% in the fourth quarter. UBS Group AG now owns 479,261 shares of the industrial products company’s stock worth $34,847,000 after acquiring an additional 23,494 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Pentair during the 4th quarter worth about $2,908,000. State Board of Administration of Florida Retirement System raised its stake in Pentair by 5.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock valued at $15,820,000 after purchasing an additional 8,966 shares during the last quarter. Point72 Europe London LLP purchased a new position in Pentair in the 4th quarter valued at about $921,000. Finally, Kodai Capital Management LP acquired a new stake in shares of Pentair during the 4th quarter worth about $173,280,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Stifel Nicolaus raised their price target on Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a research note 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 company currently has an average rating of “Moderate Buy” and an average price target of $92.87.

Pentair Trading Down 0.5 %

NYSE PNR opened at $94.80 on Friday. The firm has a market capitalization of $15.69 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.68 and a beta of 1.20. 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 one year low of $57.18 and a one year high of $95.87. The company’s 50 day moving average price is $86.02 and its 200 day moving average price is $82.33.

Pentair (NYSE:PNR) last issued its 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 the consensus estimate of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 EPS. On average, sell-side analysts predict that Pentair plc will post 4.25 EPS for the current 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.