Gabelli Funds LLC Reduces Stock Holdings in Pentair plc (NYSE:PNR)

Gabelli Funds LLC reduced its position in shares of Pentair plc (NYSE:PNR) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 111,700 shares of the industrial products company’s stock after selling 800 shares during the quarter. Gabelli Funds LLC owned 0.07% of Pentair worth $8,564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new stake in Pentair during the second quarter valued at approximately $25,000. Crewe Advisors LLC grew its position in shares of Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 267 shares during the period. Family Firm Inc. bought a new stake in shares of Pentair during the 2nd quarter valued at $48,000. LRI Investments LLC purchased a new stake in shares of Pentair in the 1st quarter worth $56,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Pentair by 24.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 173 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PNR shares. Oppenheimer boosted 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. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group raised their target price on shares of Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Barclays upped their price target 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. Finally, KeyCorp raised their price objective on shares of Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and an average target price of $92.87.

Pentair Trading Up 1.2 %

Shares of Pentair stock opened at $95.95 on Tuesday. Pentair plc has a twelve month low of $57.18 and a twelve month high of $96.29. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $86.33 and a 200-day moving average price of $82.49. The firm has a market cap of $15.93 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.68 and a beta of 1.20.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share 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 business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business posted $1.03 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Pentair plc will post 4.25 EPS 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.