Pentair plc (NYSE:PNR) Shares Acquired by Citigroup Inc.

Citigroup Inc. raised its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 39.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 214,244 shares of the industrial products company's stock after acquiring an additional 60,722 shares during the period. Citigroup Inc. owned approximately 0.13% of Pentair worth $18,742,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Strategic Blueprint LLC boosted its holdings in shares of Pentair by 2.3% during the first quarter. Strategic Blueprint LLC now owns 5,521 shares of the industrial products company's stock worth $483,000 after purchasing an additional 123 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Pentair by 5.6% during the first quarter. HB Wealth Management LLC now owns 3,604 shares of the industrial products company's stock worth $315,000 after purchasing an additional 192 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in shares of Pentair by 0.7% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 29,930 shares of the industrial products company's stock worth $3,012,000 after purchasing an additional 197 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Pentair by 11.4% during the first quarter. Larson Financial Group LLC now owns 2,016 shares of the industrial products company's stock worth $176,000 after purchasing an additional 207 shares during the last quarter. Finally, Wedmont Private Capital boosted its holdings in shares of Pentair by 5.9% during the first quarter. Wedmont Private Capital now owns 3,759 shares of the industrial products company's stock worth $309,000 after purchasing an additional 209 shares during the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PNR shares. TD Cowen cut Pentair from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $115.00 to $110.00 in a report on Wednesday, July 23rd. Wall Street Zen upgraded Pentair from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Stifel Nicolaus raised their price objective on Pentair from $104.00 to $124.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Oppenheimer increased their target price on Pentair from $118.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on Pentair from $113.00 to $116.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $114.36.

Pentair Stock Down 1.5%

Shares of NYSE PNR traded down $1.59 during midday trading on Friday, reaching $105.04. 1,021,704 shares of the company's stock were exchanged, compared to its average volume of 2,051,845. Pentair plc has a 52-week low of $74.25 and a 52-week high of $110.71. The stock has a market capitalization of $17.22 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 2.01 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. The business's fifty day moving average price is $103.00 and its two-hundred day moving average price is $95.62.

Pentair (NYSE:PNR - Get Free Report) last announced its 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 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 analyst estimates of $1.12 billion. During the same period in the previous year, the company earned $1.22 earnings per share. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts forecast that Pentair plc will post 4.77 EPS for the current 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.