Pentair (NYSE:PNR) Price Target Raised to $120.00

Pentair (NYSE:PNR) had its price objective raised by Barclays from $108.00 to $120.00 in a research report sent to investors on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

PNR has been the topic of several other reports. UBS Group lifted their price objective on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. TD Cowen boosted their price target on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wolfe Research assumed coverage on Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price target for the company. KeyCorp boosted their price target on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus boosted their price target on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Pentair currently has an average rating of “Moderate Buy” and a consensus price target of $107.13.

Pentair Price Performance

PNR stock opened at $108.11 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. Pentair has a 52-week low of $66.18 and a 52-week high of $110.71. The stock’s 50 day moving average is $102.04 and its two-hundred day moving average is $89.92. The company has a market capitalization of $17.86 billion, a PE ratio of 27.03, a P/E/G ratio of 1.94 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same period in the previous year, the business earned $0.94 EPS. Pentair’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts predict that Pentair will post 4.28 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.85%. Pentair’s dividend payout ratio is currently 23.00%.

Insiders Place Their Bets

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in Pentair by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after acquiring an additional 121 shares during the period. Wedmont Private Capital boosted its position in Pentair by 3.9% during the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock worth $270,000 after acquiring an additional 128 shares during the period. Fifth Third Bancorp boosted its position in Pentair by 3.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 129 shares during the period. Inspire Advisors LLC boosted its position 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 period. Finally, Quarry LP raised its stake in shares of Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after buying an additional 134 shares in the last quarter. 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.