Prudential PLC Lowers Position in Pentair plc (NYSE:PNR)

Key Points

• Prudential PLC reduced its holdings in Pentair plc by 5.9%, owning 51,564 shares worth $4.5 million after selling 3,246 shares in the first quarter.
• Pentair's stock has seen an increase in analyst ratings, with price targets raised by firms like JPMorgan Chase and Robert W. Baird, indicating a strong outlook for the company's future performance.
• The company reported a quarterly earnings per share of $1.39, surpassing estimates, and had a revenue of $1.12 billion, showing a year-over-year revenue growth of 2.2%.

Prudential PLC reduced its stake in shares of Pentair plc (NYSE:PNR - Free Report) by 5.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,564 shares of the industrial products company's stock after selling 3,246 shares during the quarter. Prudential PLC's holdings in Pentair were worth $4,511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Asset Management One Co. Ltd. raised its stake in Pentair by 4.8% in 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 buying an additional 3,476 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Pentair by 31.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,453 shares of the industrial products company's stock valued at $390,000 after acquiring an additional 1,067 shares during the period. Fifth Third Bancorp boosted its stake in shares of Pentair by 6.6% in the 1st quarter. Fifth Third Bancorp now owns 4,075 shares of the industrial products company's stock worth $356,000 after buying an additional 253 shares during the last quarter. GAMMA Investing LLC grew its position in Pentair by 14.0% during the first quarter. GAMMA Investing LLC now owns 3,964 shares of the industrial products company's stock valued at $347,000 after buying an additional 487 shares during the period. Finally, Ritholtz Wealth Management increased its position in Pentair by 44.7% in the first quarter. Ritholtz Wealth Management now owns 3,031 shares of the industrial products company's stock worth $265,000 after buying an additional 937 shares in the last quarter. Institutional investors own 92.37% of the company's stock.

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 2,051,845. 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. Pentair plc has a 12-month low of $74.25 and a 12-month high of $110.71. The company has a current ratio of 1.45, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $103.00 and a 200 day moving average of $95.62.

Pentair (NYSE:PNR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.06. The firm had revenue of $1.12 billion during 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 revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 earnings per share. Analysts predict that Pentair plc will post 4.77 EPS for the current fiscal year.

Analyst Ratings Changes

PNR has been the subject of several research analyst reports. The Goldman Sachs Group set a $95.00 target price on shares of Pentair and gave the company a "neutral" rating in a research note on Tuesday, April 22nd. Mizuho upped their price objective on Pentair from $118.00 to $122.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Citigroup reaffirmed a "buy" rating and set a $125.00 target price (up previously from $99.00) on shares of Pentair in a research note on Monday, July 14th. Robert W. Baird increased their target price on Pentair from $107.00 to $121.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Finally, TD Cowen cut shares of Pentair from a "buy" rating to a "hold" rating and lowered their target price for the stock from $115.00 to $110.00 in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, three have given 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, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.