Pentair (NYSE:PNR) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Pentair (NYSE:PNR) in a research note published on Thursday,Benzinga reports. The firm currently has a $115.00 price target on the industrial products company’s stock.

PNR has been the subject of several other research reports. Barclays raised their price objective on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Oppenheimer boosted their target price on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. KeyCorp raised their price target on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Pentair presently has a consensus rating of “Moderate Buy” and an average price target of $105.13.

Pentair Trading Up 0.8 %

Shares of Pentair stock opened at $106.93 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The firm has a market cap of $17.67 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 1.89 and a beta of 1.19. Pentair has a 52-week low of $62.63 and a 52-week high of $107.78. The company’s 50-day simple moving average is $99.38 and its 200-day simple moving average is $88.22.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. During the same period last year, the firm earned $0.94 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Pentair will post 4.28 earnings per share for the current year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Friday, October 18th. Pentair’s payout ratio is currently 23.00%.

Insider Activity at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares in the company, valued at $1,916,853.44. This represents a 15.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pentair

A number of institutional investors have recently added to or reduced their stakes in PNR. Harbour Investments Inc. increased its holdings in Pentair by 10.7% in the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock valued at $644,000 after buying an additional 636 shares during the last quarter. Cetera Investment Advisers lifted its stake in Pentair by 222.8% during the first quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock valued at $4,328,000 after buying an additional 34,959 shares in the last quarter. Swedbank AB lifted its holdings in shares of Pentair by 0.9% in the second quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock valued at $87,885,000 after purchasing an additional 10,000 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Pentair in the second quarter worth approximately $631,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Pentair during the first quarter worth $1,487,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

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.