Pentair plc (NYSE:PNR) Shares Acquired by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Pentair plc (NYSE:PNR) by 6.9% in the second quarter, Holdings Channel.com reports. The firm owned 1,639,547 shares of the industrial products company’s stock after acquiring an additional 105,724 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Pentair were worth $125,704,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Pentair during the 4th quarter worth approximately $9,177,000. UBS Group AG increased its stake in shares of Pentair by 5.2% in the fourth quarter. UBS Group AG now owns 479,261 shares of the industrial products company’s stock worth $34,847,000 after buying an additional 23,494 shares during the last quarter. Coldstream Capital Management Inc. bought a new stake in shares of Pentair in the fourth quarter worth $215,000. Corient Private Wealth LLC raised its holdings in Pentair by 8.4% in the fourth quarter. Corient Private Wealth LLC now owns 19,381 shares of the industrial products company’s stock valued at $1,409,000 after acquiring an additional 1,503 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Pentair by 515.7% during the 4th quarter. Assetmark Inc. now owns 2,358 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 1,975 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PNR shares. The Goldman Sachs Group boosted their target price on shares of Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. KeyCorp upped their price objective on Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Barclays increased their target price on Pentair from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Northcoast Research downgraded Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.87.

Pentair Trading Down 0.5 %

Pentair stock opened at $94.80 on Friday. Pentair plc has a 52-week low of $57.18 and a 52-week high of $95.87. 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 firm has a market capitalization of $15.69 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.68 and a beta of 1.20. The firm has a 50-day moving average price of $86.02 and a two-hundred day moving average price of $82.33.

Pentair (NYSE:PNR) last issued its quarterly earnings data 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 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 the consensus estimate of $1.09 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. Sell-side analysts expect that Pentair plc will post 4.25 earnings per share for the current 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.