Pentair plc (NYSE:PNR) Position Increased by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in Pentair plc by 9.5% during the 1st quarter, now holding 60,659 shares valued at approximately $5.3 million.
• Pentair reported earnings of $1.39 per share for the recent quarter, surpassing expectations and showcasing a 2.2% year-over-year revenue growth.
• Several research firms have adjusted their price targets for Pentair, with an average target set at $114.36, while ratings vary widely from "sell" to "strong buy."

Federated Hermes Inc. boosted its holdings in shares of Pentair plc (NYSE:PNR - Free Report) by 9.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,659 shares of the industrial products company's stock after buying an additional 5,239 shares during the quarter. Federated Hermes Inc.'s holdings in Pentair were worth $5,306,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Blair William & Co. IL acquired a new position in shares of Pentair in the fourth quarter valued at approximately $285,000. Norges Bank acquired a new position in shares of Pentair in the fourth quarter valued at approximately $36,568,000. O Shaughnessy Asset Management LLC boosted its stake in shares of Pentair by 21.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 15,132 shares of the industrial products company's stock valued at $1,523,000 after buying an additional 2,698 shares during the period. Franklin Resources Inc. boosted its stake in shares of Pentair by 112.9% in the fourth quarter. Franklin Resources Inc. now owns 68,660 shares of the industrial products company's stock valued at $6,910,000 after buying an additional 36,411 shares during the period. Finally, Trexquant Investment LP bought a new stake in shares of Pentair in the fourth quarter valued at approximately $514,000. Institutional investors and hedge funds own 92.37% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on PNR. Citigroup restated a "buy" rating and set a $125.00 target price (up from $99.00) on shares of Pentair in a research note on Monday, July 14th. Wall Street Zen upgraded Pentair from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Royal Bank Of Canada lifted their price target on Pentair from $99.00 to $101.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Barclays boosted their target price on shares of Pentair from $116.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Bank of America lowered shares of Pentair from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $106.00 to $100.00 in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Pentair has an average rating of "Moderate Buy" and a consensus target price of $114.36.

Pentair Stock Performance

Shares of NYSE:PNR traded up $2.07 during midday trading on Tuesday, reaching $104.28. The company's stock had a trading volume of 2,143,050 shares, compared to its average volume of 2,053,503. The firm has a market capitalization of $17.09 billion, a PE ratio of 28.49, a P/E/G ratio of 1.96 and a beta of 1.07. Pentair plc has a twelve month low of $74.25 and a twelve month high of $110.71. The stock has a fifty day moving average of $102.06 and a 200 day moving average of $95.49. The company has a quick ratio of 0.84, a current ratio of 1.45 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 company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm earned $1.22 earnings per share. Pentair's quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities analysts expect that Pentair plc will post 4.77 EPS for the current fiscal 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.