iA Global Asset Management Inc. Takes $1.20 Million Position in Pentair plc (NYSE:PNR)

Key Points

• iA Global Asset Management Inc. has acquired a new position in Pentair plc, buying 13,736 shares valued at approximately $1.2 million during the 1st quarter.
• Pentair's shares are currently trading around $102.56, with a market capitalization of $16.81 billion and a price-to-earnings ratio of 28.02.
• Several brokerages have increased their price targets for Pentair, with Barclays raising it to $117.00 and Citigroup to $125.00, reflecting strong analyst sentiment towards the stock.

iA Global Asset Management Inc. purchased a new position in shares of Pentair plc (NYSE:PNR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,736 shares of the industrial products company's stock, valued at approximately $1,202,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNR. Strategic Blueprint LLC raised its position in Pentair by 2.3% during the first quarter. Strategic Blueprint LLC now owns 5,521 shares of the industrial products company's stock worth $483,000 after acquiring an additional 123 shares during the period. HB Wealth Management LLC grew its holdings in shares of Pentair by 5.6% in the first quarter. HB Wealth Management LLC now owns 3,604 shares of the industrial products company's stock valued at $315,000 after purchasing an additional 192 shares during the period. Azzad Asset Management Inc. ADV grew its holdings in shares of Pentair by 0.7% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 29,930 shares of the industrial products company's stock valued at $3,012,000 after purchasing an additional 197 shares during the period. Larson Financial Group LLC grew its holdings in shares of Pentair by 11.4% in the first quarter. Larson Financial Group LLC now owns 2,016 shares of the industrial products company's stock valued at $176,000 after purchasing an additional 207 shares during the period. Finally, Wedmont Private Capital boosted its stake in Pentair by 5.9% during the first quarter. Wedmont Private Capital now owns 3,759 shares of the industrial products company's stock worth $309,000 after buying an additional 209 shares during the period. Institutional investors own 92.37% of the company's stock.

Pentair Stock Down 0.1%

PNR stock traded down $0.06 during midday trading on Monday, reaching $102.67. The company had a trading volume of 173,778 shares, compared to its average volume of 1,562,622. The company has a market capitalization of $16.83 billion, a P/E ratio of 28.03, a PEG ratio of 1.97 and a beta of 1.07. The company has a 50 day moving average of $102.35 and a two-hundred day moving average of $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 plc has a 1 year low of $74.25 and a 1 year high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company posted $1.22 earnings per share. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts expect that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on PNR shares. Barclays raised their price target on Pentair from $116.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. TD Cowen cut Pentair from a "buy" rating to a "hold" rating and cut their price target for the company from $115.00 to $110.00 in a research note on Wednesday, July 23rd. Bank of America cut Pentair from a "neutral" rating to an "underperform" rating and cut their price target for the company from $106.00 to $100.00 in a research note on Tuesday, July 29th. Robert W. Baird raised their price objective on shares of Pentair from $107.00 to $121.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Finally, Citigroup reissued a "buy" rating and set a $125.00 price objective (up previously from $99.00) on shares of Pentair in a report on Monday, July 14th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Pentair currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.36.

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.