Public Employees Retirement System of Ohio Buys Shares of 49,641 Pentair plc $PNR

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

A number of other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in Pentair by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 4,428,737 shares of the industrial products company’s stock worth $459,480,000 after buying an additional 137,980 shares during the last quarter. Amundi boosted its holdings in Pentair by 13.1% in the first quarter. Amundi now owns 4,237,659 shares of the industrial products company’s stock worth $369,208,000 after acquiring an additional 491,758 shares in the last quarter. Invesco Ltd. grew its stake in shares of Pentair by 3.1% during the fourth quarter. Invesco Ltd. now owns 3,414,386 shares of the industrial products company’s stock worth $355,574,000 after acquiring an additional 101,650 shares during the last quarter. Morgan Stanley increased its holdings in shares of Pentair by 21.7% during the fourth quarter. Morgan Stanley now owns 2,474,549 shares of the industrial products company’s stock valued at $257,700,000 after acquiring an additional 441,878 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Pentair by 0.9% during the third quarter. Northern Trust Corp now owns 2,149,531 shares of the industrial products company’s stock valued at $238,082,000 after acquiring an additional 18,716 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair News Summary

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

Analyst Ratings Changes

PNR has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Pentair in a research report on Monday, July 27th. Jefferies Financial Group set a $90.00 price target on shares of Pentair in a research note on Wednesday, July 15th. The Goldman Sachs Group decreased their price target on shares of Pentair from $91.00 to $72.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Stifel Nicolaus reiterated a “hold” rating and set a $65.00 price objective (down from $103.00) on shares of Pentair in a research note on Thursday, July 16th. Finally, Robert W. Baird dropped their price objective on shares of Pentair from $83.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Pentair has a consensus rating of “Hold” and an average price target of $89.94.

Pentair Price Performance

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

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

Pentair 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.