Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Pentair plc (NYSE:PNR)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Pentair plc (NYSE:PNR - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 334,314 shares of the industrial products company's stock after buying an additional 5,392 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of Pentair worth $29,246,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. raised its holdings in Pentair by 4,231.6% in the first quarter. Pacer Advisors Inc. now owns 622,185 shares of the industrial products company's stock valued at $54,429,000 after acquiring an additional 607,821 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Pentair by 229.1% during the first quarter. Assenagon Asset Management S.A. now owns 786,362 shares of the industrial products company's stock worth $68,791,000 after acquiring an additional 547,419 shares during the last quarter. Northern Trust Corp grew its position in Pentair by 27.9% in the 4th quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company's stock valued at $197,482,000 after buying an additional 428,184 shares in the last quarter. GAMMA Investing LLC grew its position in Pentair by 9,873.3% in the 1st quarter. GAMMA Investing LLC now owns 346,771 shares of the industrial products company's stock valued at $30,336,000 after buying an additional 343,294 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Pentair by 308.9% during the 4th quarter. Point72 Asset Management L.P. now owns 321,620 shares of the industrial products company's stock valued at $32,368,000 after purchasing an additional 242,973 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Trading Down 1.1%

Shares of PNR traded down $1.17 during mid-day trading on Friday, reaching $105.47. 123,992 shares of the company were exchanged, compared to its average volume of 1,561,117. The stock has a market capitalization of $17.29 billion, a PE ratio of 28.82, a PEG ratio of 2.09 and a beta of 1.07. The business has a 50 day simple moving average of $102.89 and a two-hundred day simple moving average of $95.65. 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 52 week low of $74.25 and a 52 week high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the company posted $1.22 earnings per share. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts predict that Pentair plc will post 4.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PNR shares. Wall Street Zen upgraded shares of Pentair from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. UBS Group reduced their price target on shares of Pentair from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. 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. Stifel Nicolaus increased their price target on Pentair from $104.00 to $124.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, Barclays raised their price objective on shares of Pentair from $116.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.