Raymond James & Associates Boosts Holdings in Pentair plc (NYSE:PNR)

Raymond James & Associates grew its stake in shares of Pentair plc (NYSE:PNR) by 4.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 70,833 shares of the industrial products company’s stock after acquiring an additional 3,135 shares during the period. Raymond James & Associates’ holdings in Pentair were worth $5,431,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. UBS Group AG lifted its stake in shares of Pentair by 5.2% during the 4th quarter. UBS Group AG now owns 479,261 shares of the industrial products company’s stock valued at $34,847,000 after buying an additional 23,494 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Pentair in the 4th quarter worth approximately $2,908,000. State Board of Administration of Florida Retirement System boosted its holdings 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 period. Point72 Europe London LLP purchased a new position in shares of Pentair during the 4th quarter valued at $921,000. Finally, Kodai Capital Management LP purchased a new stake in shares of Pentair in the fourth quarter worth $173,280,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

PNR has been the subject of several recent analyst reports. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Oppenheimer lifted their price objective on Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Barclays increased their target price on Pentair from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, KeyCorp lifted their price target on Pentair from $92.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $92.87.

Pentair Price Performance

PNR opened at $85.96 on Thursday. 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 company has a market cap of $14.27 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 1.52 and a beta of 1.21. The stock has a fifty day simple moving average of $81.54 and a two-hundred day simple moving average of $80.76. Pentair plc has a 12-month low of $57.18 and a 12-month high of $89.63.

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, topping the consensus estimate of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the business earned $1.03 EPS. Pentair’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts predict that Pentair plc will post 4.25 earnings per share 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.