Brokerages Set Pentair plc (NYSE:PNR) Target Price at $94.33

Shares of Pentair plc (NYSE:PNR) have earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $95.93.

Several research firms have commented on PNR. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada increased their target price on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group lifted their price target on Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays upped their price objective on Pentair from $96.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th.

Pentair Stock Down 0.2 %

Shares of PNR stock opened at $99.31 on Tuesday. Pentair has a 12-month low of $57.18 and a 12-month high of $99.95. 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 firm has a fifty day moving average of $91.07 and a 200-day moving average of $84.30. The company has a market capitalization of $16.49 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 1.74 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Pentair had a return on equity of 20.39% and a net margin of 16.05%. Pentair’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share. As a group, equities research analysts predict that Pentair will post 4.26 earnings per share for the current fiscal year.

Pentair Announces Dividend

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

Institutional Trading of Pentair

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Inspire Advisors LLC grew its holdings in Pentair by 1.6% during the 3rd quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock worth $794,000 after acquiring an additional 130 shares during the last quarter. Claro Advisors LLC bought a new position in Pentair during the 3rd quarter worth $974,000. Global Retirement Partners LLC lifted its holdings in Pentair by 30.6% during the 3rd quarter. Global Retirement Partners LLC now owns 3,843 shares of the industrial products company’s stock worth $376,000 after buying an additional 900 shares during the period. Swedbank AB grew its position in shares of Pentair by 17.9% in the 3rd quarter. Swedbank AB now owns 1,351,271 shares of the industrial products company’s stock valued at $132,141,000 after buying an additional 205,000 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Pentair by 9.7% in the third quarter. Creative Planning now owns 17,180 shares of the industrial products company’s stock valued at $1,680,000 after buying an additional 1,519 shares during the period. Institutional investors own 92.37% of the company’s stock.

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.