6,849 Shares in Pentair plc (NYSE:PNR) Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC purchased a new position in Pentair plc (NYSE:PNR) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,849 shares of the industrial products company’s stock, valued at approximately $525,000.

A number of other institutional investors also recently bought and sold shares of PNR. Prospector Partners LLC increased its stake in shares of Pentair by 0.6% in the second quarter. Prospector Partners LLC now owns 145,042 shares of the industrial products company’s stock worth $11,120,000 after acquiring an additional 822 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in Pentair by 6.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock worth $125,704,000 after purchasing an additional 105,724 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Pentair during the 2nd quarter valued at about $1,328,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Pentair by 4.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,842 shares of the industrial products company’s stock valued at $295,000 after buying an additional 174 shares during the period. Finally, Intech Investment Management LLC boosted its stake in shares of Pentair by 129.9% in the second quarter. Intech Investment Management LLC now owns 42,372 shares of the industrial products company’s stock worth $3,249,000 after buying an additional 23,945 shares during the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PNR shares. Deutsche Bank Aktiengesellschaft boosted their price target on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Oppenheimer increased their price target on shares of Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Barclays lifted their price objective on shares of Pentair from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Royal Bank of Canada increased their target price on shares of Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $92.87.

Pentair Stock Up 1.2 %

PNR stock opened at $95.95 on Tuesday. 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 firm has a 50-day moving average of $86.33 and a two-hundred day moving average of $82.49. Pentair plc has a 12 month low of $57.18 and a 12 month high of $96.29. The company has a market cap of $15.93 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.68 and a beta of 1.20.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. Pentair’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. As a group, analysts forecast that Pentair plc will post 4.25 earnings per share for the current fiscal year.

About Pentair

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.