Hsbc Holdings PLC Sells 86,475 Shares of Pentair plc (NYSE:PNR)

Hsbc Holdings PLC lessened its position in Pentair plc (NYSE:PNR) by 34.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,553 shares of the industrial products company’s stock after selling 86,475 shares during the period. Hsbc Holdings PLC owned about 0.10% of Pentair worth $12,672,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PNR. Opal Wealth Advisors LLC acquired a new stake in Pentair in the 2nd quarter valued at about $25,000. Crewe Advisors LLC raised its stake in Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after buying an additional 267 shares during the period. Family Firm Inc. acquired a new stake in shares of Pentair in the second quarter valued at approximately $48,000. LRI Investments LLC acquired a new position in shares of Pentair during the 1st quarter worth approximately $56,000. Finally, EverSource Wealth Advisors LLC raised its stake in Pentair by 24.6% in 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 during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Stifel Nicolaus upped their price objective on shares of Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Oppenheimer upped their price target on shares of Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays raised their price objective on shares of Pentair from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Royal Bank of Canada upped their target price on Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.87.

Pentair Price Performance

Shares of NYSE:PNR opened at $94.80 on Monday. The firm has a 50 day moving average of $86.02 and a 200-day moving average of $82.39. Pentair plc has a 12 month low of $57.18 and a 12 month high of $95.87. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The stock has a market capitalization 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 announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.14 by $0.08. The business had revenue of $1.10 billion during 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 company’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. On average, equities research analysts predict that Pentair plc will post 4.25 EPS for the current fiscal year.

Pentair Company 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.