State Treasurer State of Michigan trimmed its position in shares of Pentair PLC (NYSE:PNR) by 16.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,902 shares of the industrial products company’s stock after selling 7,500 shares during the quarter. State Treasurer State of Michigan’s holdings in Pentair were worth $1,410,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Horan Capital Advisors LLC. purchased a new stake in Pentair in the 1st quarter valued at $31,000. Twin Tree Management LP purchased a new stake in Pentair in the 1st quarter valued at $49,000. Huntington National Bank grew its holdings in Pentair by 25.0% in the 2nd quarter. Huntington National Bank now owns 1,519 shares of the industrial products company’s stock valued at $57,000 after buying an additional 304 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Pentair in the 2nd quarter valued at $65,000. Finally, Icon Wealth Partners LLC purchased a new stake in Pentair in the 1st quarter valued at $100,000. Hedge funds and other institutional investors own 84.87% of the company’s stock.

Several analysts have issued reports on PNR shares. Morgan Stanley upped their target price on Pentair from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. BMO Capital Markets dropped their target price on Pentair to $39.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. ValuEngine upgraded Pentair from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Cowen restated an “outperform” rating and issued a $45.00 target price (down from $52.00) on shares of Pentair in a report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Pentair has a consensus rating of “Hold” and a consensus target price of $45.17.

Shares of Pentair stock opened at $37.07 on Wednesday. Pentair PLC has a 52 week low of $34.72 and a 52 week high of $45.99. The company has a fifty day simple moving average of $37.67. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 2.66 and a beta of 1.18. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.67.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Pentair had a return on equity of 21.15% and a net margin of 12.54%. The business had revenue of $799.50 million for the quarter, compared to analyst estimates of $790.62 million. During the same quarter in the prior year, the company posted $0.71 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts expect that Pentair PLC will post 2.32 earnings per share for the current year.

About Pentair

Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment 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, pool repair, renovation, service and construction, and aquaculture solution applications.

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Institutional Ownership by Quarter for Pentair (NYSE:PNR)

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