Bank of New York Mellon Corp Has $80.53 Million Position in Pentair plc (NYSE:PNR)

Bank of New York Mellon Corp reduced its stake in shares of Pentair plc (NYSE:PNR) by 23.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,050,389 shares of the industrial products company’s stock after selling 325,576 shares during the quarter. Bank of New York Mellon Corp’s holdings in Pentair were worth $80,533,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Kodai Capital Management LP bought a new position in Pentair in the fourth quarter valued at approximately $173,280,000. DekaBank Deutsche Girozentrale increased its holdings in Pentair by 352.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after purchasing an additional 1,228,635 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Pentair by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,377,786 shares of the industrial products company’s stock valued at $100,179,000 after buying an additional 16,875 shares during the last quarter. KBC Group NV raised its holdings in shares of Pentair by 49.2% in the fourth quarter. KBC Group NV now owns 1,191,049 shares of the industrial products company’s stock valued at $86,601,000 after purchasing an additional 392,785 shares during the last quarter. Finally, Swedbank AB lifted its position in Pentair by 0.9% during the 2nd quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock worth $87,885,000 after buying an additional 10,000 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PNR shares. The Goldman Sachs Group upped their target price on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada upped their price target on shares of Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Stifel Nicolaus raised their price objective on Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Oppenheimer boosted their target price on shares of Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Northcoast Research cut Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Pentair has an average rating of “Moderate Buy” and an average target price of $92.87.

Pentair Trading Up 1.2 %

Shares of Pentair stock opened at $86.99 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65. The stock has a market capitalization of $14.44 billion, a P/E ratio of 23.14, a P/E/G ratio of 1.52 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 stock’s 50-day simple moving average is $81.69 and its 200 day simple moving average is $80.80.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.08. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 earnings per share. As a group, research analysts anticipate that Pentair plc will post 4.25 EPS 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.