Neuberger Berman Group LLC Increases Position in Pentair plc (NYSE:PNR)

Key Points

• Neuberger Berman Group LLC increased its stake in Pentair plc by 59.8% in Q1, owning 37,781 shares valued at $3.3 million.
• Pentair's stock recently experienced a decline of 2.1% and has an average rating of "Moderate Buy" from analysts with a consensus target price of $114.36.
• The company reported earnings of $1.39 per share for the last quarter, beating estimates, and noted a revenue increase of 2.2% compared to the previous year.

Neuberger Berman Group LLC grew its position in shares of Pentair plc (NYSE:PNR - Free Report) by 59.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,781 shares of the industrial products company's stock after acquiring an additional 14,144 shares during the period. Neuberger Berman Group LLC's holdings in Pentair were worth $3,305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parvin Asset Management LLC bought a new position in Pentair in the fourth quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Pentair during the 1st quarter valued at $28,000. Colonial Trust Co SC increased its holdings in shares of Pentair by 230.8% in 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 during the last quarter. NBC Securities Inc. bought a new stake in shares of Pentair in the 1st quarter worth about $33,000. Finally, North Capital Inc. bought a new position in Pentair during the 1st quarter valued at about $38,000. 92.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Pentair from $113.00 to $116.00 and gave the company an "overweight" rating in a 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. Royal Bank Of Canada upped their price target on shares of Pentair from $99.00 to $101.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Barclays upped their price target on shares of Pentair from $116.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Robert W. Baird raised their target price on shares of Pentair from $107.00 to $121.00 and gave the company an "outperform" 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 issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $114.36.

Pentair Stock Down 1.5%

PNR traded down $1.59 during trading hours on Friday, hitting $105.04. 1,021,704 shares of the company's stock were exchanged, compared to its average volume of 2,005,539. Pentair plc has a 12-month low of $74.25 and a 12-month high of $110.71. The firm has a 50 day moving average of $103.00 and a 200 day moving average of $95.57. The firm has a market cap of $17.22 billion, a P/E ratio of 28.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.07. 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 (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.06. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.12 billion. Pentair had a net margin of 14.86% and a return on equity of 21.62%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 EPS. Analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

About Pentair

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.