Alps Advisors Inc. Invests $205,000 in Pentair PLC (PNR)
Alps Advisors Inc. bought a new position in Pentair PLC (NYSE:PNR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,906 shares of the industrial products company’s stock, valued at approximately $205,000.
Several other large investors have also recently bought and sold shares of PNR. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Pentair in the first quarter worth about $170,000. TLP Group LLC lifted its position in shares of Pentair by 5,880.0% in the first quarter. TLP Group LLC now owns 3,289 shares of the industrial products company’s stock worth $224,000 after buying an additional 3,234 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of Pentair by 3,358.1% in the first quarter. Summit Trail Advisors LLC now owns 236,018 shares of the industrial products company’s stock worth $236,000 after buying an additional 229,193 shares in the last quarter. IBM Retirement Fund purchased a new stake in shares of Pentair in the first quarter worth about $248,000. Finally, Institutional & Family Asset Management LLC purchased a new stake in shares of Pentair in the first quarter worth about $251,000. Institutional investors own 86.43% of the company’s stock.
Shares of PNR stock opened at $44.07 on Friday. Pentair PLC has a 1 year low of $41.00 and a 1 year high of $50.25. The company has a current ratio of 1.40, a quick ratio of 0.89 and a debt-to-equity ratio of 0.41. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 1.86 and a beta of 1.36.
In other Pentair news, SVP Ademir Sarcevic sold 1,042 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $41.67, for a total transaction of $43,420.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Trian Fund Management, L.P. sold 1,700,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $42.15, for a total value of $71,655,000.00. Following the sale, the director now owns 2,862 shares in the company, valued at $120,633.30. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.
A number of equities research analysts recently commented on PNR shares. Zacks Investment Research upgraded Pentair from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Monday, July 30th. Seaport Global Securities reiterated a “buy” rating and issued a $48.00 target price on shares of Pentair in a research report on Friday, July 27th. TheStreet downgraded Pentair from a “b” rating to a “c+” rating in a research report on Thursday, June 21st. KeyCorp reiterated an “equal weight” rating on shares of Pentair in a research report on Thursday, May 31st. Finally, Robert W. Baird restated a “hold” rating and set a $44.00 price objective on shares of Pentair in a research report on Friday, July 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $57.43.
Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.
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