Stock Traders Buy Large Volume of Pentair Call Options (NYSE:PNR)

Pentair plc (NYSE:PNR) was the target of some unusual options trading activity on Tuesday. Traders bought 3,023 call options on the company. This is an increase of approximately 179% compared to the average volume of 1,082 call options.

Pentair Stock Performance

Shares of PNR traded up $0.56 during trading hours on Tuesday, reaching $93.51. 273,123 shares of the company traded hands, compared to its average volume of 1,548,130. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average price of $84.64 and a 200-day moving average price of $81.94. Pentair has a 12-month low of $57.18 and a 12-month high of $94.05. The stock has a market capitalization of $15.48 billion, a P/E ratio of 24.89, a P/E/G ratio of 1.64 and a beta of 1.20.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PNR shares. Stifel Nicolaus upped their price target on shares of Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Oppenheimer increased their target price on Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their target price on shares of Pentair from $99.00 to $101.00 and gave the stock an “outperform” 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $92.87.

Institutional Trading of Pentair

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Pentair in the second quarter valued at $67,000. Sanctuary Advisors LLC purchased a new stake in shares of Pentair in the second quarter worth about $473,000. Cetera Investment Advisers grew its holdings in Pentair by 8.3% during the second quarter. Cetera Investment Advisers now owns 54,855 shares of the industrial products company’s stock worth $4,206,000 after acquiring an additional 4,202 shares during the period. Truist Financial Corp raised its position in Pentair by 2.5% during the second quarter. Truist Financial Corp now owns 19,288 shares of the industrial products company’s stock valued at $1,479,000 after acquiring an additional 466 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in Pentair by 90.2% in the second quarter. B. Riley Wealth Advisors Inc. now owns 12,319 shares of the industrial products company’s stock valued at $945,000 after acquiring an additional 5,841 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

About Pentair

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.