Pentair (NYSE:PNR) Sets New 1-Year High After Analyst Upgrade

Shares of Pentair plc (NYSE:PNR) hit a new 52-week high during mid-day trading on Monday after KeyCorp raised their price target on the stock from $97.00 to $110.00. KeyCorp currently has an overweight rating on the stock. Pentair traded as high as $98.58 and last traded at $98.35, with a volume of 105986 shares. The stock had previously closed at $97.63.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group lifted their price objective on Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Oppenheimer boosted their price target on Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Barclays upped their target price on Pentair from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.33.

Institutional Trading of Pentair

Institutional investors and hedge funds have recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in Pentair during the second quarter valued at approximately $25,000. Crewe Advisors LLC raised its position in shares of Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 267 shares during the period. Family Firm Inc. acquired a new stake in shares of Pentair during the 2nd quarter worth approximately $48,000. LRI Investments LLC acquired a new stake in shares of Pentair during the 1st quarter worth approximately $56,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Pentair by 59.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 705 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 262 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Price Performance

The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $90.39 and a two-hundred day moving average price of $84.09. The firm has a market capitalization of $16.35 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 1.74 and a beta of 1.20.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.09 billion. During the same period in the prior year, the firm earned $1.03 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, research analysts forecast that Pentair plc will post 4.26 EPS for the current year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. Pentair’s dividend payout ratio (DPR) is 24.47%.

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.