Municipal Employees Retirement System of Michigan raised its position in Pentair PLC. (NYSE:PNR) by 179.2% during the second quarter, Holdings Channel reports. The firm owned 14,910 shares of the industrial products company’s stock after buying an additional 9,570 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Pentair PLC. were worth $992,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PNR. Vanguard Group Inc. increased its position in shares of Pentair PLC. by 3.7% in the first quarter. Vanguard Group Inc. now owns 15,766,592 shares of the industrial products company’s stock worth $989,827,000 after buying an additional 557,786 shares during the period. BlackRock Inc. increased its position in shares of Pentair PLC. by 1,577.2% in the first quarter. BlackRock Inc. now owns 11,564,179 shares of the industrial products company’s stock worth $726,001,000 after buying an additional 10,874,699 shares during the period. State Street Corp increased its position in shares of Pentair PLC. by 1.6% in the first quarter. State Street Corp now owns 11,282,638 shares of the industrial products company’s stock worth $708,327,000 after buying an additional 180,937 shares during the period. Parnassus Investments CA increased its position in shares of Pentair PLC. by 1.3% in the first quarter. Parnassus Investments CA now owns 9,038,266 shares of the industrial products company’s stock worth $551,514,000 after buying an additional 114,323 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of Pentair PLC. by 16.1% in the first quarter. Clearbridge Investments LLC now owns 6,133,909 shares of the industrial products company’s stock worth $385,087,000 after buying an additional 850,370 shares during the period. 86.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pentair PLC. (NYSE PNR) opened at 61.57 on Friday. Pentair PLC. has a 12-month low of $53.80 and a 12-month high of $69.03. The firm has a market capitalization of $11.17 billion, a P/E ratio of 18.12 and a beta of 1.38. The company has a 50-day moving average price of $64.69 and a 200-day moving average price of $63.18.

Pentair PLC. (NYSE:PNR) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share for the quarter, hitting the consensus estimate of $1.00. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 earnings per share. Equities analysts predict that Pentair PLC. will post $3.51 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Pentair PLC. (PNR) Stake Boosted by Municipal Employees Retirement System of Michigan” was originally posted by Daily Political and is the property of of Daily Political. If you are reading this article on another website, it was stolen and republished in violation of U.S. and international copyright & trademark law. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/08/12/pentair-plc-pnr-stake-boosted-by-municipal-employees-retirement-system-of-michigan.html.

Several equities analysts have recently commented on PNR shares. BidaskClub downgraded Pentair PLC. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. BMO Capital Markets reaffirmed a “hold” rating and issued a $61.00 target price on shares of Pentair PLC. in a research report on Wednesday, April 26th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $77.00 target price on shares of Pentair PLC. in a research report on Tuesday, June 6th. Zacks Investment Research raised Pentair PLC. from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research report on Tuesday, June 6th. Finally, KeyCorp raised Pentair PLC. from a “sector weight” rating to an “overweight” rating and set a $77.00 target price on the stock in a research report on Wednesday, May 17th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $66.86.

In related news, Director David A. /Wi Jones sold 10,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $67.68, for a total transaction of $676,800.00. Following the transaction, the director now owns 20,804 shares in the company, valued at $1,408,014.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward P. Garden purchased 290,000 shares of Pentair PLC. stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average price of $65.31 per share, for a total transaction of $18,939,900.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 1,726,000 shares of company stock worth $112,619,140 and have sold 237,500 shares worth $15,706,725. 9.90% of the stock is owned by insiders.

About Pentair PLC.

Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.

Want to see what other hedge funds are holding PNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pentair PLC. (NYSE:PNR).

Institutional Ownership by Quarter for Pentair PLC. (NYSE:PNR)

Receive News & Ratings for Pentair PLC. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pentair PLC. and related companies with MarketBeat.com's FREE daily email newsletter.