Oppenheimer & Co. Inc. Trims Stake in Pentair plc (NYSE:PNR)

Oppenheimer & Co. Inc. reduced its position in shares of Pentair plc (NYSE:PNR) by 15.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 46,943 shares of the industrial products company’s stock after selling 8,632 shares during the period. Oppenheimer & Co. Inc.’s holdings in Pentair were worth $3,599,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Pentair during the 2nd quarter worth $25,000. Crewe Advisors LLC increased its holdings in Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 267 shares during the period. Family Firm Inc. purchased a new position in Pentair during the 2nd quarter worth $48,000. LRI Investments LLC purchased a new position in shares of Pentair in the 1st quarter valued at $56,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of 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 hedge funds and other institutional investors.

Pentair Stock Performance

Shares of PNR stock opened at $91.49 on Monday. The stock has a market cap of $15.19 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20. Pentair plc has a 52-week low of $57.18 and a 52-week high of $92.03. 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 simple moving average of $84.28 and a 200-day simple moving average of $81.83.

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, topping analysts’ consensus estimates of $1.14 by $0.08. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a return on equity of 20.39% and a net margin of 16.05%. Pentair’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. On average, equities analysts expect that Pentair plc will post 4.25 EPS for the current year.

Wall Street Analysts Forecast Growth

PNR has been the topic of a number of analyst reports. Oppenheimer lifted 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 report on Wednesday, July 24th. Royal Bank of Canada lifted their price target on Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their price target on Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Barclays boosted their target price on Pentair from $90.00 to $96.00 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.87.

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.