BNP PARIBAS ASSET MANAGEMENT Holding S.A. Grows Stock Position in Pentair plc $PNR

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Pentair plc by 4.9%, now holding approximately 0.15% of the company, valued at $22 million.
• Analysts have recently set varied price targets for Pentair, with Bank of America downgrading it to an "underperform" rating and lowering its price target to $100, while Citigroup upgraded it to a "buy" with a target price of $125.
• Pentair recently reported earnings per share of $1.39 for the quarter, exceeding estimates and showing a 2.2% year-over-year revenue growth.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Pentair plc (NYSE:PNR - Free Report) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 251,649 shares of the industrial products company's stock after purchasing an additional 11,767 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.15% of Pentair worth $22,014,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Parvin Asset Management LLC bought a new stake in Pentair during the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Pentair in the first quarter worth $28,000. NBC Securities Inc. purchased a new position in shares of Pentair in the first quarter worth $33,000. Colonial Trust Co SC boosted its position in shares of Pentair by 230.8% during the fourth quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company's stock worth $35,000 after acquiring an additional 240 shares during the last quarter. Finally, Horizon Financial Services LLC purchased a new position in Pentair during the first quarter valued at $38,000. Institutional investors own 92.37% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PNR. Bank of America lowered Pentair from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $106.00 to $100.00 in a research note on Tuesday, July 29th. TD Cowen downgraded Pentair from a "buy" rating to a "hold" rating and decreased their price objective for the company from $115.00 to $110.00 in a research report on Wednesday, July 23rd. Citigroup reiterated a "buy" rating and issued a $125.00 target price (up previously from $99.00) on shares of Pentair in a report on Monday, July 14th. Mizuho boosted their target price on Pentair from $118.00 to $122.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded Pentair from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $114.36.

Pentair Price Performance

PNR opened at $105.04 on Monday. The company has a market capitalization of $17.22 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 2.01 and a beta of 1.07. The company has a current ratio of 1.45, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. Pentair plc has a 12-month low of $74.25 and a 12-month high of $110.71. The business's fifty day simple moving average is $103.00 and its 200-day simple moving average is $95.57.

Pentair (NYSE:PNR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. The company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.12 billion. Pentair had a net margin of 14.86% and a return on equity of 21.62%. The firm's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.22 EPS. On average, equities research analysts anticipate that Pentair plc will post 4.77 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.