Cetera Investment Advisers Sells 16,299 Shares of Pentair plc (NYSE:PNR)

Cetera Investment Advisers reduced its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 24.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,335 shares of the industrial products company's stock after selling 16,299 shares during the quarter. Cetera Investment Advisers' holdings in Pentair were worth $4,316,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Parvin Asset Management LLC bought a new position in shares of Pentair in the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in Pentair during the 1st quarter valued at $28,000. Colonial Trust Co SC increased its holdings in Pentair by 230.8% during the fourth quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company's stock valued at $35,000 after buying an additional 240 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Pentair in the first quarter valued at about $33,000. Finally, North Capital Inc. bought a new position in Pentair during the first quarter valued at $38,000. 92.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on PNR shares. JPMorgan Chase & Co. upped their target price on Pentair from $113.00 to $116.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on Pentair from $99.00 to $101.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. The Goldman Sachs Group set a $95.00 price objective on shares of Pentair and gave the company a "neutral" rating in a report on Tuesday, April 22nd. Robert W. Baird raised their price objective on Pentair from $107.00 to $121.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Oppenheimer increased their target price on Pentair from $118.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $114.36.

Pentair Stock Down 0.5%

NYSE:PNR traded down $0.50 during trading hours on Thursday, reaching $102.05. 417,492 shares of the stock were exchanged, compared to its average volume of 1,570,099. The firm has a 50 day moving average of $102.23 and a 200 day moving average of $95.60. Pentair plc has a twelve month low of $74.25 and a twelve month high of $110.71. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.45 and a quick ratio of 0.84. The stock has a market cap of $16.73 billion, a PE ratio of 27.93, a PEG ratio of 2.00 and a beta of 1.07.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly 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 return on equity of 21.62% and a net margin of 14.86%. The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the previous year, the firm earned $1.22 EPS. Pentair's revenue was up 2.2% on a year-over-year basis. On average, equities analysts expect that Pentair plc will post 4.77 earnings per share for the current year.

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.