Private Advisor Group LLC Takes $204,000 Position in Pentair PLC (PNR)

Private Advisor Group LLC bought a new position in Pentair PLC (NYSE:PNR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,707 shares of the industrial products company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PNR. Wells Fargo & Company MN raised its holdings in shares of Pentair by 39.1% in the 2nd quarter. Wells Fargo & Company MN now owns 3,619,549 shares of the industrial products company’s stock worth $152,309,000 after purchasing an additional 1,017,611 shares in the last quarter. Parnassus Investments CA increased its position in shares of Pentair by 13.6% in the second quarter. Parnassus Investments CA now owns 7,973,507 shares of the industrial products company’s stock worth $335,525,000 after acquiring an additional 955,374 shares in the last quarter. Sound Shore Management Inc. CT increased its position in shares of Pentair by 31.4% in the second quarter. Sound Shore Management Inc. CT now owns 2,942,681 shares of the industrial products company’s stock worth $123,828,000 after acquiring an additional 703,138 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Pentair by 540.6% in the second quarter. Canada Pension Plan Investment Board now owns 631,716 shares of the industrial products company’s stock worth $26,583,000 after acquiring an additional 533,100 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Pentair by 133.7% in the third quarter. First Trust Advisors LP now owns 901,481 shares of the industrial products company’s stock worth $39,079,000 after acquiring an additional 515,769 shares in the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.

Shares of PNR opened at $42.70 on Monday. Pentair PLC has a 52 week low of $36.06 and a 52 week high of $50.25. The company has a market cap of $7.41 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.64 and a beta of 1.29. The company has a current ratio of 1.40, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.02. Pentair had a net margin of 11.04% and a return on equity of 16.35%. The firm had revenue of $711.40 million for the quarter, compared to the consensus estimate of $698.88 million. During the same period in the previous year, the firm posted $0.95 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. On average, equities research analysts predict that Pentair PLC will post 2.33 EPS for the current year.

Several research analysts have recently weighed in on PNR shares. Zacks Investment Research reissued a “buy” rating and issued a $47.00 target price on shares of Pentair in a research report on Wednesday, November 14th. Stifel Nicolaus lifted their target price on shares of Pentair from $44.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, October 8th. ValuEngine raised shares of Pentair from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Pentair from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $56.00.

In related news, Director Glynis Bryan sold 17,133 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $45.00, for a total transaction of $770,985.00. Following the transaction, the director now directly owns 35,115 shares of the company’s stock, valued at $1,580,175. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.70% of the company’s stock.

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Pentair Company Profile

Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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