Pentair plc (NYSE:PNR) Shares Purchased by Forsta AP Fonden

Key Points

• Forsta AP Fonden has increased its stake in Pentair plc (NYSE: PNR) by 2.8%, now owning 98,900 shares valued at approximately $8.65 million.
• Institutional investors control 92.37% of Pentair's stock, with significant increases seen from firms like Pacer Advisors, which raised its stake by over 4,231%.
• Pentair reported quarterly earnings of $1.39 per share, surpassing analyst estimates and reflecting a 2.2% year-over-year revenue growth.

Forsta AP Fonden boosted its stake in Pentair plc (NYSE:PNR - Free Report) by 2.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 98,900 shares of the industrial products company's stock after purchasing an additional 2,700 shares during the period. Forsta AP Fonden owned about 0.06% of Pentair worth $8,652,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PNR. Pacer Advisors Inc. increased its holdings in Pentair by 4,231.6% in the 1st quarter. Pacer Advisors Inc. now owns 622,185 shares of the industrial products company's stock valued at $54,429,000 after purchasing an additional 607,821 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Pentair by 229.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 786,362 shares of the industrial products company's stock valued at $68,791,000 after purchasing an additional 547,419 shares during the last quarter. Northern Trust Corp increased its holdings 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 purchasing an additional 428,184 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 purchasing an additional 343,294 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of Pentair by 308.9% in the fourth quarter. Point72 Asset Management L.P. now owns 321,620 shares of the industrial products company's stock worth $32,368,000 after acquiring an additional 242,973 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

Pentair Price Performance

Shares of PNR opened at $102.74 on Friday. 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 $16.84 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 1.97 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. The firm has a fifty day moving average price of $102.35 and a 200 day moving average price of $95.51.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.06. Pentair had a net margin of 14.86% and a return on equity of 21.62%. The firm had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the company earned $1.22 earnings per share. Pentair's quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pentair plc will post 4.77 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. TD Cowen downgraded shares of Pentair from a "buy" rating to a "hold" rating and dropped their price target for the stock from $115.00 to $110.00 in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price target on shares of Pentair from $113.00 to $116.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Barclays boosted their price target 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. Oppenheimer boosted their price target on shares of Pentair from $118.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Citigroup restated a "buy" rating and issued a $125.00 price target (up previously from $99.00) on shares of Pentair in a research note on Monday, July 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $114.36.

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.

Want to see what other hedge funds are holding PNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pentair plc (NYSE:PNR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.