SG Americas Securities LLC Decreases Stock Holdings in Pentair plc (NYSE:PNR)

SG Americas Securities LLC reduced its stake in shares of Pentair plc (NYSE:PNR) by 91.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,852 shares of the industrial products company’s stock after selling 548,319 shares during the quarter. SG Americas Securities LLC’s holdings in Pentair were worth $4,052,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNR. Sequoia Financial Advisors LLC acquired a new stake in Pentair during the 4th quarter worth $340,000. Cerity Partners LLC acquired a new stake in Pentair during the 4th quarter worth $333,000. Louisiana State Employees Retirement System acquired a new position in Pentair in the fourth quarter valued at $727,000. United Asset Strategies Inc. increased its stake in Pentair by 7.2% in the fourth quarter. United Asset Strategies Inc. now owns 12,484 shares of the industrial products company’s stock valued at $908,000 after purchasing an additional 836 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Pentair by 13.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 478,628 shares of the industrial products company’s stock valued at $34,801,000 after purchasing an additional 57,010 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jerome O. Pedretti sold 24,747 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the sale, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on PNR shares. TD Cowen lifted their price objective on shares of Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Barclays lifted their price objective on shares of Pentair from $90.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group lifted their price objective on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.87.

Pentair Stock Down 1.8 %

PNR stock opened at $82.86 on Tuesday. The company has a market cap of $13.76 billion, a P/E ratio of 22.04, a P/E/G ratio of 1.49 and a beta of 1.21. Pentair plc has a 52 week low of $57.18 and a 52 week high of $89.63. The company’s 50-day moving average price is $80.02 and its 200 day moving average price is $79.84. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, research analysts expect that Pentair plc will post 4.25 earnings per share for the current fiscal year.

Pentair Company 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.