State Board of Administration of Florida Retirement System raised its stake in shares of Pentair PLC. (NYSE:PNR) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,138 shares of the industrial products company’s stock after buying an additional 1,376 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.14% of Pentair PLC. worth $16,844,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in PNR. Keybank National Association OH raised its position in shares of Pentair PLC. by 0.6% in the first quarter. Keybank National Association OH now owns 4,329 shares of the industrial products company’s stock valued at $272,000 after buying an additional 24 shares in the last quarter. Cleararc Capital Inc. raised its position in shares of Pentair PLC. by 0.7% in the first quarter. Cleararc Capital Inc. now owns 4,095 shares of the industrial products company’s stock valued at $257,000 after buying an additional 28 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Pentair PLC. by 1.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,037 shares of the industrial products company’s stock valued at $191,000 after buying an additional 50 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Pentair PLC. by 0.3% in the second quarter. CIBC Asset Management Inc now owns 16,405 shares of the industrial products company’s stock valued at $1,092,000 after buying an additional 54 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Pentair PLC. by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the industrial products company’s stock valued at $692,000 after buying an additional 100 shares in the last quarter. 86.77% of the stock is currently owned by institutional investors.
Shares of Pentair PLC. (PNR) opened at 61.51 on Friday. The stock has a 50 day moving average price of $63.47 and a 200-day moving average price of $63.32. The stock has a market cap of $11.16 billion, a P/E ratio of 18.11 and a beta of 1.38. Pentair PLC. has a 52 week low of $53.80 and a 52 week high of $69.03.
Pentair PLC. (NYSE:PNR) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, meeting the consensus estimate of $1.00. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business earned $1.11 earnings per share. Pentair PLC.’s revenue was down 2.8% compared to the same quarter last year. Equities analysts predict that Pentair PLC. will post $3.51 EPS for the current fiscal year.
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Several brokerages recently issued reports on PNR. KeyCorp raised Pentair PLC. from a “sector weight” rating to an “overweight” rating and set a $77.00 target price on the stock in a research report on Wednesday, May 17th. Zacks Investment Research raised Pentair PLC. from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $68.00 target price on shares of Pentair PLC. in a research report on Friday, July 14th. BMO Capital Markets upped their target price on Pentair PLC. from $61.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, May 24th. Finally, Cowen and Company upped their target price on Pentair PLC. from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. Pentair PLC. presently has an average rating of “Hold” and a consensus price target of $67.23.
Pentair PLC. Company Profile
Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.
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