Pentair plc (NYSE:PNR) Shares Sold by ING Groep NV

ING Groep NV trimmed its holdings in Pentair plc (NYSE:PNR - Free Report) by 82.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,098 shares of the industrial products company's stock after selling 98,005 shares during the quarter. ING Groep NV's holdings in Pentair were worth $1,846,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its stake in shares of Pentair by 4.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 75,337 shares of the industrial products company's stock worth $6,590,000 after acquiring an additional 3,476 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Pentair by 31.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,453 shares of the industrial products company's stock worth $390,000 after acquiring an additional 1,067 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Pentair by 6.6% during the 1st quarter. Fifth Third Bancorp now owns 4,075 shares of the industrial products company's stock worth $356,000 after acquiring an additional 253 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Pentair by 14.0% during the 1st quarter. GAMMA Investing LLC now owns 3,964 shares of the industrial products company's stock worth $347,000 after acquiring an additional 487 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its stake in shares of Pentair by 44.7% during the 1st quarter. Ritholtz Wealth Management now owns 3,031 shares of the industrial products company's stock worth $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 Up 0.7%

Shares of NYSE PNR traded up $0.68 during midday trading on Friday, reaching $102.74. 1,146,621 shares of the stock were exchanged, compared to its average volume of 2,013,114. The company has a 50 day simple moving average of $102.35 and a 200 day simple moving average of $95.51. The stock has a market capitalization of $16.84 billion, a P/E ratio of 28.07, a PEG ratio of 1.97 and a beta of 1.07. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.45. Pentair plc has a twelve month low of $74.25 and a twelve month 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 earnings per share (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 during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm earned $1.22 EPS. The business's revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that Pentair plc will post 4.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PNR. The Goldman Sachs Group set a $95.00 target price on shares of Pentair and gave the stock a "neutral" rating in a research note on Tuesday, April 22nd. Royal Bank Of Canada raised their price target on shares of Pentair from $99.00 to $101.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. UBS Group decreased their price target on shares of Pentair from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Barclays raised their price target on shares of Pentair from $116.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Mizuho raised their price target on shares of Pentair from $118.00 to $122.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average 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.