Public Employees Retirement Association of Colorado Decreases Stock Position in Pentair plc (NYSE:PNR)

Public Employees Retirement Association of Colorado reduced its holdings in shares of Pentair plc (NYSE:PNR) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,978 shares of the industrial products company’s stock after selling 639 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Pentair were worth $1,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Pentair during the fourth quarter worth about $9,177,000. Coldstream Capital Management Inc. acquired a new position in Pentair in the 4th quarter valued at $215,000. Corient Private Wealth LLC lifted its stake in shares of Pentair by 8.4% during the 4th quarter. Corient Private Wealth LLC now owns 19,381 shares of the industrial products company’s stock worth $1,409,000 after purchasing an additional 1,503 shares during the period. Assetmark Inc. boosted its holdings in shares of Pentair by 515.7% during the fourth quarter. Assetmark Inc. now owns 2,358 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 1,975 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Pentair by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 50,947 shares of the industrial products company’s stock valued at $3,704,000 after purchasing an additional 5,896 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Up 0.7 %

NYSE PNR opened at $96.62 on Wednesday. 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 plc has a fifty-two week low of $57.18 and a fifty-two week high of $96.83. The business has a 50 day moving average price of $86.60 and a two-hundred day moving average price of $82.60. The stock has a market cap of $16.04 billion, a PE ratio of 25.70, a P/E/G ratio of 1.68 and a beta of 1.20.

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, beating analysts’ consensus estimates of $1.14 by $0.08. The business 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%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. As a group, sell-side analysts predict that Pentair plc will post 4.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. The Goldman Sachs Group upped their price target 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” 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. Finally, KeyCorp lifted their target price on Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.87.

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.