Pentair plc (NYSE:PNR) Shares Bought by Prospector Partners LLC

Prospector Partners LLC raised its stake in shares of Pentair plc (NYSE:PNR) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 145,042 shares of the industrial products company’s stock after acquiring an additional 822 shares during the period. Prospector Partners LLC owned approximately 0.09% of Pentair worth $11,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PNR. Dimensional Fund Advisors LP lifted its stake in Pentair by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after purchasing an additional 53,787 shares in the last quarter. Kodai Capital Management LP acquired a new position in Pentair during the 4th quarter worth about $173,280,000. Massachusetts Financial Services Co. MA boosted its holdings in Pentair by 91.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after acquiring an additional 996,325 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in Pentair by 6.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock valued at $125,704,000 after acquiring an additional 105,724 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake 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 worth $134,695,000 after purchasing an additional 1,228,635 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Trading Down 0.5 %

NYSE PNR opened at $94.80 on Friday. The firm’s fifty day moving average is $86.02 and its two-hundred day moving average is $82.37. Pentair plc has a one year low of $57.18 and a one year high of $95.87. 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 $15.69 billion, a PE ratio of 25.21, a P/E/G ratio of 1.68 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its quarterly earnings results 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. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts expect that Pentair plc will post 4.25 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. KeyCorp upped their price objective on Pentair from $92.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price target on Pentair from $90.00 to $98.00 and gave the stock a “buy” 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 company a “buy” rating in a research note on Wednesday, July 24th. Finally, Oppenheimer raised their target price on shares of Pentair from $92.00 to $98.00 and gave the company an “outperform” 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.