iA Global Asset Management Inc. Buys New Shares in Pentair plc (NYSE:PNR)

iA Global Asset Management Inc. bought a new stake in Pentair plc (NYSE:PNR) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,188 shares of the industrial products company’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Pentair in the second quarter valued at $25,000. Crewe Advisors LLC boosted its holdings in Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 267 shares during the period. Family Firm Inc. purchased a new position in Pentair in the second quarter valued at $48,000. Rational Advisors LLC boosted its holdings in Pentair by 200.0% in the first quarter. Rational Advisors LLC now owns 633 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 422 shares during the period. Finally, LRI Investments LLC purchased a new position in Pentair in the first quarter valued at $56,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Oppenheimer raised their price target on Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group raised their price target on Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price target on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Northcoast Research cut Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.87.

Pentair Stock Performance

Shares of PNR stock opened at $88.69 on Friday. The stock has a market capitalization of $14.72 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.52 and a beta of 1.21. Pentair plc has a 52-week low of $57.18 and a 52-week high of $89.63. The stock’s 50-day moving average price is $81.87 and its 200 day moving average price is $80.95. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51.

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, beating the consensus estimate of $1.14 by $0.08. The firm had revenue of $1.10 billion for 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%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. As a group, equities research analysts forecast that Pentair plc will post 4.25 EPS 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.