Verition Fund Management LLC Buys 26,072 Shares of Pentair plc (NYSE:PNR)

Verition Fund Management LLC raised its holdings in Pentair plc (NYSE:PNRGet Rating) by 185.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 40,165 shares of the industrial products company’s stock after acquiring an additional 26,072 shares during the period. Verition Fund Management LLC’s holdings in Pentair were worth $2,177,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Walleye Capital LLC purchased a new position in shares of Pentair in the first quarter worth about $334,000. CFS Investment Advisory Services LLC grew its stake in Pentair by 5,262.4% during the first quarter. CFS Investment Advisory Services LLC now owns 1,829,316 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 1,795,202 shares in the last quarter. Virtu Financial LLC purchased a new position in Pentair during the first quarter valued at approximately $442,000. Mirabella Financial Services LLP purchased a new position in Pentair during the first quarter valued at approximately $778,000. Finally, Lido Advisors LLC purchased a new position in Pentair during the first quarter valued at approximately $281,000. Hedge funds and other institutional investors own 87.08% of the company’s stock.

Insider Activity at Pentair

In related news, EVP Philip M. Rolchigo sold 2,531 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $47.90, for a total transaction of $121,234.90. Following the completion of the sale, the executive vice president now directly owns 21,339 shares in the company, valued at approximately $1,022,138.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is currently owned by company insiders.

Pentair Trading Down 1.7 %

Shares of PNR opened at $42.84 on Friday. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.23 and a beta of 1.11. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.73 and a current ratio of 1.38. Pentair plc has a fifty-two week low of $42.46 and a fifty-two week high of $80.10. The firm has a 50 day moving average price of $47.28 and a 200-day moving average price of $49.82.

Pentair (NYSE:PNRGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The industrial products company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. Pentair had a net margin of 13.99% and a return on equity of 24.60%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the business posted $0.84 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts forecast that Pentair plc will post 3.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PNR. Cowen reduced their price objective on shares of Pentair from $75.00 to $65.00 in a research note on Wednesday, July 27th. Morgan Stanley cut their price target on shares of Pentair from $49.00 to $41.00 and set an “underweight” rating for the company in a research note on Friday, July 15th. Mizuho cut their price target on shares of Pentair from $54.00 to $48.00 in a research note on Monday, July 18th. Stifel Nicolaus cut their price target on shares of Pentair from $57.00 to $47.00 in a research note on Wednesday, July 20th. Finally, Northcoast Research started coverage on shares of Pentair in a research note on Friday, July 15th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $64.91.

About Pentair

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Pentair plc provides various water solutions worldwide. It operates through Consumer Solutions; and Industrial & Flow Technologies segments. The Consumer Solutions segment designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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