Azzad Asset Management Inc. ADV Decreases Stock Holdings in Pentair plc (NYSE:PNR)

Azzad Asset Management Inc. ADV trimmed its position in shares of Pentair plc (NYSE:PNR) by 13.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,662 shares of the industrial products company’s stock after selling 4,988 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Pentair were worth $2,428,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PNR. Kodai Capital Management LP purchased a new position in shares of Pentair in the 4th quarter valued at approximately $173,280,000. DekaBank Deutsche Girozentrale raised its position in shares of Pentair by 352.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after purchasing an additional 1,228,635 shares during the last quarter. Swedbank AB purchased a new position in shares of Pentair in the 1st quarter valued at approximately $97,083,000. AMF Tjanstepension AB purchased a new position in shares of Pentair in the 1st quarter valued at approximately $45,096,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Pentair by 138.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company’s stock valued at $60,655,000 after purchasing an additional 484,810 shares during the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PNR shares. The Goldman Sachs Group increased their price objective on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Stifel Nicolaus increased their price target on shares of Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Oppenheimer increased their price target on shares of Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Barclays increased their price target on shares of Pentair from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.87.

Pentair Stock Performance

Shares of NYSE PNR traded up $1.70 during midday trading on Friday, reaching $88.69. 1,505,238 shares of the stock were exchanged, compared to its average volume of 1,576,543. The firm has a market cap of $14.72 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 1.52 and a beta of 1.21. Pentair plc has a twelve month low of $57.18 and a twelve month high of $89.63. The firm has a 50-day simple moving average of $81.87 and a two-hundred day simple moving average of $80.90. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51.

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

Pentair Company Profile

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.