Public Employees Retirement System of Ohio Takes Position in Pentair plc $PNR

Public Employees Retirement System of Ohio purchased a new position in shares of Pentair plc (NYSE:PNR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 49,641 shares of the industrial products company’s stock, valued at approximately $3,805,000.

Other hedge funds also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Pentair by 71.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 252 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 105 shares during the last quarter. Wexford Capital LP bought a new stake in shares of Pentair during the 3rd quarter worth approximately $26,000. Motiv8 Investments LLC purchased a new position in Pentair during the 4th quarter valued at $27,000. Aster Capital Management DIFC Ltd bought a new position in Pentair in the 4th quarter valued at $43,000. Finally, Park Square Financial Group LLC grew its position in Pentair by 502.8% in the 4th quarter. Park Square Financial Group LLC now owns 434 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 362 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PNR shares. Stifel Nicolaus reiterated a “hold” rating and set a $65.00 target price (down from $103.00) on shares of Pentair in a research report on Thursday, July 16th. Seaport Research Partners downgraded shares of Pentair from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 15th. Robert W. Baird decreased their price objective on shares of Pentair from $83.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. BNP Paribas Exane reissued an “underperform” rating and issued a $64.00 price objective (down from $75.00) on shares of Pentair in a research report on Thursday, July 16th. Finally, TD Cowen dropped their target price on shares of Pentair from $75.00 to $65.00 and set a “sell” rating on the stock in a research note on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $89.94.

Pentair Stock Performance

Shares of PNR stock opened at $60.06 on Friday. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.53 and a beta of 1.02. Pentair plc has a 52-week low of $57.60 and a 52-week high of $113.95. The company has a quick ratio of 0.76, a current ratio of 1.45 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $67.42 and its 200 day moving average is $78.27.

Pentair (NYSE:PNR) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. Pentair had a return on equity of 20.62% and a net margin of 16.24%.The company had revenue of $932.60 million during the quarter, compared to analyst estimates of $943.24 million. During the same quarter in the prior year, the business earned $1.39 earnings per share. Pentair’s revenue was down 17.0% on a year-over-year basis. On average, sell-side analysts anticipate that Pentair plc will post 4.64 EPS for the current fiscal year.

Trending Headlines about Pentair

Here are the key news stories impacting Pentair this week:

• Positive Sentiment: Pentair secured new term loans to help finance its planned acquisition of Taco Group Holdings, a move that could expand its water-solutions portfolio and growth opportunities. However, the borrowings also add financing obligations. Pentair Secures New Term Loans for Taco Acquisition

Pentair Company Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.