Invesco Ltd. Buys 541,461 Shares of Pentair plc (NYSE:PNR)

Key Points

• Invesco Ltd. increased its stake in Pentair plc by 16.5% during Q1, owning approximately 2.33% of the company, worth around $335 million.
• Pentair reported $1.39 earnings per share, surpassing estimates, with a revenue of $1.12 billion for the quarter.
• Brokerage firms have set new price targets for Pentair, with Mizuho raising its target to $122 and Citigroup to $125, indicating a consensus rating of "Moderate Buy".

Invesco Ltd. grew its position in Pentair plc (NYSE:PNR - Free Report) by 16.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,829,985 shares of the industrial products company's stock after purchasing an additional 541,461 shares during the period. Invesco Ltd. owned about 2.33% of Pentair worth $335,047,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new position in Pentair during the 4th quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in Pentair during the 1st quarter worth about $28,000. Colonial Trust Co SC lifted its position in Pentair by 230.8% during the 4th quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company's stock worth $35,000 after buying an additional 240 shares in the last quarter. NBC Securities Inc. acquired a new position in Pentair during the 1st quarter worth about $33,000. Finally, North Capital Inc. bought a new stake in Pentair during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 92.37% of the company's stock.

Pentair Stock Performance

Pentair stock traded down $1.58 during mid-day trading on Friday, hitting $105.05. 369,126 shares of the company's stock traded hands, compared to its average volume of 1,562,584. The firm has a 50 day simple moving average of $102.89 and a two-hundred day simple moving average of $95.65. Pentair plc has a fifty-two week low of $74.25 and a fifty-two week high of $110.71. The stock has a market cap of $17.22 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 2.09 and a beta of 1.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.45 and a quick ratio of 0.84.

Pentair (NYSE:PNR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.12 billion. Pentair had a return on equity of 21.62% and a net margin of 14.86%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 EPS. On average, research analysts expect that Pentair plc will post 4.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group set a $95.00 price objective on Pentair and gave the stock a "neutral" rating in a report on Tuesday, April 22nd. Citigroup reiterated a "buy" rating and issued a $125.00 price objective (up from $99.00) on shares of Pentair in a research report on Monday, July 14th. Oppenheimer upped their price target on Pentair from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Pentair from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Stifel Nicolaus boosted their price objective on shares of Pentair from $104.00 to $124.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.