Texas Permanent School Fund Corp Sells 6,838 Shares of Pentair plc (NYSE:PNR)

Texas Permanent School Fund Corp decreased its stake in Pentair plc (NYSE:PNR) by 20.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,333 shares of the industrial products company’s stock after selling 6,838 shares during the period. Texas Permanent School Fund Corp’s holdings in Pentair were worth $2,096,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Great Lakes Advisors LLC raised its holdings in shares of Pentair by 53.9% in the 4th quarter. Great Lakes Advisors LLC now owns 14,898 shares of the industrial products company’s stock worth $1,083,000 after purchasing an additional 5,219 shares during the period. ING Groep NV raised its stake in shares of Pentair by 77,934.5% in the fourth quarter. ING Groep NV now owns 22,630 shares of the industrial products company’s stock valued at $1,645,000 after buying an additional 22,601 shares during the period. Norges Bank purchased a new position in shares of Pentair during the 4th quarter valued at $9,177,000. UBS Group AG grew 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 worth $34,847,000 after acquiring an additional 23,494 shares during the period. Finally, Coldstream Capital Management Inc. purchased a new stake in Pentair in the 4th quarter worth about $215,000. Institutional investors own 92.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PNR. Oppenheimer increased their target price on shares of Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Stifel Nicolaus raised their price objective on shares of Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Northcoast Research lowered shares of Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Barclays increased their target price on Pentair from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, 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 research report 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.87.

Pentair Stock Performance

NYSE:PNR opened at $93.91 on Wednesday. Pentair plc has a twelve month low of $57.18 and a twelve month high of $94.05. 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 stock has a market cap of $15.54 billion, a P/E ratio of 24.98, a PEG ratio of 1.64 and a beta of 1.20. The business’s 50-day moving average price is $84.64 and its two-hundred day moving average price is $81.94.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm posted $1.03 earnings per share. Pentair’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities 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.