LPL Financial LLC Reduces Stake in Pentair plc (NYSE:PNR)

LPL Financial LLC decreased its stake in Pentair plc (NYSE:PNR - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,522 shares of the industrial products company's stock after selling 13,041 shares during the period. LPL Financial LLC owned 0.06% of Pentair worth $7,919,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its stake in Pentair by 4.8% during the first quarter. Asset Management One Co. Ltd. now owns 75,337 shares of the industrial products company's stock worth $6,590,000 after purchasing an additional 3,476 shares during the period. Sequoia Financial Advisors LLC grew its stake in Pentair by 31.5% during the first quarter. Sequoia Financial Advisors LLC now owns 4,453 shares of the industrial products company's stock worth $390,000 after purchasing an additional 1,067 shares during the period. Fifth Third Bancorp grew its stake in Pentair by 6.6% during the first quarter. Fifth Third Bancorp now owns 4,075 shares of the industrial products company's stock worth $356,000 after purchasing an additional 253 shares during the period. GAMMA Investing LLC grew its stake in Pentair by 14.0% during the first quarter. GAMMA Investing LLC now owns 3,964 shares of the industrial products company's stock worth $347,000 after purchasing an additional 487 shares during the period. Finally, Ritholtz Wealth Management grew its stake in Pentair by 44.7% during the first quarter. Ritholtz Wealth Management now owns 3,031 shares of the industrial products company's stock worth $265,000 after purchasing an additional 937 shares during the period. Institutional investors and hedge funds own 92.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bank of America cut Pentair from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $106.00 to $100.00 in a research note on Tuesday, July 29th. Royal Bank Of Canada boosted their price objective on Pentair from $99.00 to $101.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. UBS Group cut their target price on Pentair from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Mizuho boosted 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. Finally, TD Cowen downgraded shares of Pentair from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $115.00 to $110.00 in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Pentair presently has an average rating of "Moderate Buy" and an average price target of $114.36.

Pentair Stock Performance

PNR stock traded down $0.75 during midday trading on Friday, hitting $105.88. The company's stock had a trading volume of 104,704 shares, compared to its average volume of 1,561,005. The stock's 50-day moving average price is $102.89 and its 200 day moving average price is $95.65. 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 plc has a 1 year low of $74.25 and a 1 year high of $110.71. The stock has a market cap of $17.36 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 2.09 and a beta of 1.07.

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. Pentair had a return on equity of 21.62% and a net margin of 14.86%. The business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The business's revenue was up 2.2% on a year-over-year basis. On average, equities analysts forecast that Pentair plc will post 4.77 EPS 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.