ProShare Advisors LLC Sells 608,584 Shares of Pentair plc (NYSE:PNR)

ProShare Advisors LLC reduced its stake in shares of Pentair plc (NYSE:PNR) by 15.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,422,922 shares of the industrial products company’s stock after selling 608,584 shares during the period. ProShare Advisors LLC owned approximately 2.08% of Pentair worth $189,185,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in PNR. Ameriprise Financial Inc. raised its stake in shares of Pentair by 6.8% in the 1st quarter. Ameriprise Financial Inc. now owns 244,976 shares of the industrial products company’s stock valued at $13,540,000 after purchasing an additional 15,546 shares during the period. JPMorgan Chase & Co. raised its holdings in Pentair by 43.0% during the first quarter. JPMorgan Chase & Co. now owns 537,345 shares of the industrial products company’s stock worth $29,698,000 after acquiring an additional 161,514 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Pentair during the first quarter valued at approximately $221,000. Advisory Services Network LLC grew its stake in shares of Pentair by 31.8% in the first quarter. Advisory Services Network LLC now owns 5,821 shares of the industrial products company’s stock valued at $322,000 after buying an additional 1,406 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its position in shares of Pentair by 1.0% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 95,594 shares of the industrial products company’s stock valued at $5,283,000 after acquiring an additional 982 shares during the period. Institutional investors own 88.60% of the company’s stock.

Pentair Stock Performance

Shares of NYSE:PNR traded down $0.54 on Wednesday, reaching $66.95. 174,425 shares of the company’s stock were exchanged, compared to its average volume of 1,373,505. Pentair plc has a twelve month low of $38.55 and a twelve month high of $71.82. The company has a fifty day moving average of $67.86 and a 200-day moving average of $60.58. The company has a market capitalization of $11.05 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 1.97 and a beta of 1.16. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.72.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Pentair had a return on equity of 22.39% and a net margin of 11.82%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 earnings per share. On average, research analysts predict that Pentair plc will post 3.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO John L. Stauch sold 32,596 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $71.42, for a total transaction of $2,328,006.32. Following the completion of the sale, the chief executive officer now owns 7,690 shares of the company’s stock, valued at $549,219.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Pentair from $63.00 to $74.00 in a research note on Friday, July 28th. Barclays raised their price objective on Pentair from $70.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Seaport Res Ptn reissued a “buy” rating on shares of Pentair in a report on Monday, August 7th. TD Cowen raised their price target on Pentair from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, August 16th. Finally, Citigroup lifted their price objective on shares of Pentair from $70.00 to $74.00 in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Pentair has a consensus rating of “Moderate Buy” and a consensus target price of $69.20.

Pentair Profile

Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It 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 use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.