26,806 Shares in Pentair plc (NYSE:PNR) Acquired by CenterBook Partners LP

Key Points

• CenterBook Partners LP has acquired 26,806 shares of Pentair plc, valued at approximately $2,345,000, during the first quarter.
• Several institutional investors increased their positions in Pentair, with hedge funds owning 92.37% of the company's stock.
• Analysts have set new price targets for Pentair, with most ratings being "outperform" and the average target price now at $114.36.

CenterBook Partners LP acquired a new position in Pentair plc (NYSE:PNR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 26,806 shares of the industrial products company's stock, valued at approximately $2,345,000.

Other large investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. lifted its holdings in Pentair by 4.8% during the first quarter. Asset Management One Co. Ltd. now owns 75,337 shares of the industrial products company's stock valued at $6,590,000 after purchasing an additional 3,476 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Pentair by 31.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,453 shares of the industrial products company's stock worth $390,000 after buying an additional 1,067 shares during the period. Fifth Third Bancorp increased its stake in Pentair by 6.6% in the 1st quarter. Fifth Third Bancorp now owns 4,075 shares of the industrial products company's stock worth $356,000 after buying an additional 253 shares in the last quarter. GAMMA Investing LLC raised its holdings in Pentair by 14.0% during the first quarter. GAMMA Investing LLC now owns 3,964 shares of the industrial products company's stock valued at $347,000 after acquiring an additional 487 shares during the period. Finally, Ritholtz Wealth Management lifted its position in shares of Pentair by 44.7% in the first quarter. Ritholtz Wealth Management now owns 3,031 shares of the industrial products company's stock valued at $265,000 after acquiring an additional 937 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Trading Down 0.0%

Shares of PNR traded down $0.01 during trading hours on Monday, reaching $102.71. 237,628 shares of the company traded hands, compared to its average volume of 1,563,009. The firm has a market cap of $16.84 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 1.97 and a beta of 1.07. Pentair plc has a 12-month low of $74.25 and a 12-month high of $110.71. The stock's fifty day moving average price is $102.35 and its 200 day moving average price is $95.45. 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 (NYSE:PNR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.06. Pentair had a net margin of 14.86% and a return on equity of 21.62%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm earned $1.22 EPS. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Pentair plc will post 4.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PNR. JPMorgan Chase & Co. lifted their target price on Pentair from $113.00 to $116.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of Pentair from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Robert W. Baird lifted their price target on shares of Pentair from $107.00 to $121.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. TD Cowen cut shares of Pentair from a "buy" rating to a "hold" rating and decreased their price target for the stock from $115.00 to $110.00 in a research note on Wednesday, July 23rd. Finally, The Goldman Sachs Group set a $95.00 target price on Pentair and gave the stock a "neutral" rating in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.36.

Pentair Company 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.