Commonwealth Equity Services LLC Sells 2,245 Shares of Pentair plc (NYSE:PNR)

Commonwealth Equity Services LLC cut its position in Pentair plc (NYSE:PNR) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,669 shares of the industrial products company’s stock after selling 2,245 shares during the period. Commonwealth Equity Services LLC’s holdings in Pentair were worth $2,505,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PNR. Truist Financial Corp grew its stake in shares of Pentair by 8.7% in the 4th quarter. Truist Financial Corp now owns 10,457 shares of the industrial products company’s stock valued at $760,000 after buying an additional 834 shares during the period. QRG Capital Management Inc. grew its stake in shares of Pentair by 2.7% in the 4th quarter. QRG Capital Management Inc. now owns 8,931 shares of the industrial products company’s stock valued at $649,000 after buying an additional 234 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Pentair by 3.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 46,380 shares of the industrial products company’s stock valued at $3,372,000 after buying an additional 1,401 shares during the period. Forum Financial Management LP acquired a new stake in shares of Pentair in the 4th quarter valued at about $204,000. Finally, Ieq Capital LLC grew its stake in shares of Pentair by 5.0% in the 4th quarter. Ieq Capital LLC now owns 4,426 shares of the industrial products company’s stock valued at $322,000 after buying an additional 209 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PNR. KeyCorp lifted their price target on Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Barclays lifted their price target on Pentair from $90.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price target on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus boosted their target price on Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their target price on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.87.

Pentair Trading Up 0.6 %

Shares of PNR stock opened at $87.85 on Thursday. The company’s fifty day simple moving average is $83.62 and its two-hundred day simple moving average is $81.59. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96. Pentair plc has a 1 year low of $57.18 and a 1 year high of $89.63. The stock has a market capitalization of $14.59 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 1.54 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, analysts anticipate that Pentair plc will post 4.25 earnings per share for the current year.

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.