Pentair (NYSE:PNR) Given New $119.00 Price Target at Citigroup

Pentair (NYSE:PNR) had its price objective reduced by Citigroup from $126.00 to $119.00 in a research note released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on PNR. TD Cowen lifted their price target on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. KeyCorp restated a “sector weight” rating and set a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Mizuho increased their price target on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. The Goldman Sachs Group boosted their price target on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Barclays increased their price objective on shares of Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.13.

Pentair Trading Up 1.8 %

Shares of NYSE PNR opened at $98.72 on Monday. Pentair has a 1-year low of $69.42 and a 1-year high of $110.71. The business has a fifty day moving average price of $104.38 and a 200 day moving average price of $94.09. The stock has a market capitalization of $16.31 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 1.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91.

Pentair (NYSE:PNR) last released 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 net margin of 16.29% and a return on equity of 20.48%. The business had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. During the same period in the prior year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Equities research analysts expect that Pentair will post 4.28 EPS for the current fiscal year.

Pentair Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.25 per share. This is an increase from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, January 24th. Pentair’s dividend payout ratio (DPR) is currently 25.00%.

Insider Buying and Selling at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the sale, the executive vice president now owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Pentair

Several large investors have recently made changes to their positions in the company. State Street Corp increased its holdings in Pentair by 3.1% in the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock valued at $856,257,000 after buying an additional 259,922 shares in the last quarter. FMR LLC grew its position in shares of Pentair by 4.7% during the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after acquiring an additional 258,134 shares during the period. Geode Capital Management LLC increased its stake in shares of Pentair by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock valued at $389,800,000 after purchasing an additional 19,853 shares in the last quarter. Millennium Management LLC raised its holdings in Pentair by 0.7% in the 2nd quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock worth $225,779,000 after purchasing an additional 20,946 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Pentair by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after purchasing an additional 53,787 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

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.