What do Hedge Funds Think of Pentair, Ltd. Registered Share (PNR)?

As one would reasonably expect, specific money managers were breaking ground themselves. Millennium Management, managed by Israel Englander, created the largest position in Pentair, Ltd. Registered Share (NYSE:PNR). Millennium Management had $5.1 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also initiated a $4.8 million position during the quarter. The following funds were also among the new PNR investors: Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Joel Greenblatt’s Gotham Asset Management, and George Hall’s Clinton Group.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Pentair, Ltd. Registered Share (NYSE:PNR) but similarly valued. These stocks are Ultrapar Participacoes SA (ADR) (NYSE:UGP), Microchip Technology Inc. (NASDAQ:MCHP), Delhaize Group (ADR) (NYSE:DEG), and Tripadvisor Inc (NASDAQ:TRIP). All of these stocks’ market caps match PNR’s market cap.

As you can see these stocks had an average of 19.5 hedge funds with bullish positions and the average amount invested in these stocks was $320 million. That figure was $1081 million in PNR’s case. Tripadvisor Inc (NASDAQ:TRIP) is the most popular stock in this table. On the other hand Delhaize Group (ADR) (NYSE:DEG) is the least popular one with only 5 bullish hedge fund positions. Pentair, Ltd. Registered Share (NYSE:PNR) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal and makes PNR worth a closer look.