30,266 Shares in Pentair plc (NYSE:PNR) Bought by Element Capital Management LLC

Element Capital Management LLC purchased a new position in Pentair plc (NYSE:PNR) in the first quarter, HoldingsChannel reports. The fund purchased 30,266 shares of the industrial products company’s stock, valued at approximately $2,648,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Horizon Investments LLC increased its stake in shares of Pentair by 4.8% in the first quarter. Horizon Investments LLC now owns 2,372 shares of the industrial products company’s stock worth $207,000 after buying an additional 109 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Pentair in the first quarter worth $951,000. OneAscent Investment Solutions LLC bought a new stake in shares of Pentair in the first quarter worth $446,000. Neuberger Berman Group LLC increased its stake in shares of Pentair by 59.8% in the first quarter. Neuberger Berman Group LLC now owns 37,781 shares of the industrial products company’s stock worth $3,305,000 after buying an additional 14,144 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Pentair by 5.2% in the first quarter. Russell Investments Group Ltd. now owns 339,478 shares of the industrial products company’s stock worth $29,659,000 after buying an additional 16,656 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PNR shares. TD Cowen lowered shares of Pentair from a “buy” rating to a “hold” rating and lowered their target price for the company from $115.00 to $110.00 in a research note on Wednesday, July 23rd. Stifel Nicolaus boosted their target price on shares of Pentair from $104.00 to $124.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Oppenheimer boosted their target price on shares of Pentair from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group set a $95.00 target price on shares of Pentair and gave the company a “neutral” rating in a research note on Tuesday, April 22nd. Finally, Royal Bank Of Canada boosted their target price on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.36.

Pentair Stock Performance

Shares of PNR opened at $105.04 on Friday. Pentair plc has a 1 year low of $74.25 and a 1 year high of $110.71. The company has a market cap of $17.22 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 2.04 and a beta of 1.07. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.45. The firm has a fifty day moving average of $103.00 and a 200-day moving average of $95.66.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.12 billion. Pentair had a net margin of 14.86% and a return on equity of 21.62%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 earnings per share. As a group, equities analysts anticipate that Pentair plc will post 4.77 earnings per share for the current year.

About Pentair

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.