Pentair (NYSE:PNR) Price Target Increased to $115.00 by Analysts at UBS Group

Pentair (NYSE:PNR) had its price objective upped by UBS Group from $100.00 to $115.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

PNR has been the subject of several other reports. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Oppenheimer boosted their price objective on Pentair from $98.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday. Mizuho upped their price objective on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. KeyCorp lifted their target price on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Royal Bank of Canada raised their price objective on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Price Performance

Pentair stock opened at $98.00 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96. Pentair has a one year low of $57.18 and a one year high of $99.96. The firm has a market capitalization of $16.22 billion, a P/E ratio of 24.81, a PEG ratio of 1.78 and a beta of 1.20. The business has a fifty day moving average price of $92.24 and a 200-day moving average price of $84.73.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The business had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same quarter last year, the company earned $0.94 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that Pentair will post 4.26 EPS for the current year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, October 18th. Pentair’s dividend payout ratio is 23.29%.

Institutional Investors Weigh In On Pentair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in shares of Pentair by 352.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after acquiring an additional 1,228,635 shares during the last quarter. Swedbank AB bought a new stake in shares of Pentair in the 1st quarter worth approximately $97,083,000. Massachusetts Financial Services Co. MA increased its stake in shares of Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after buying an additional 996,325 shares during the period. Interval Partners LP raised its holdings in shares of Pentair by 289.6% during the second quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock valued at $73,305,000 after acquiring an additional 710,703 shares in the last quarter. Finally, AMF Tjanstepension AB bought a new stake in Pentair in the first quarter valued at $45,096,000. 92.37% of the stock is currently owned by institutional investors.

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.