JPMorgan Chase & Co. Boosts Pentair (NYSE:PNR) Price Target to $110.00

Pentair (NYSE:PNR) had its price objective raised by JPMorgan Chase & Co. from $106.00 to $110.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

A number of other analysts have also recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday. UBS Group raised their target price on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Mizuho raised their target price on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Barclays raised their target price on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Pentair has a consensus rating of “Moderate Buy” and an average price target of $104.80.

Pentair Stock Down 0.4 %

Shares of NYSE:PNR opened at $98.96 on Wednesday. The stock has a market cap of $16.43 billion, a P/E ratio of 26.32, a P/E/G ratio of 1.76 and a beta of 1.20. The firm has a fifty day moving average price of $92.82 and a 200 day moving average price of $84.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.96. Pentair has a 1-year low of $57.40 and a 1-year high of $101.00.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. Pentair’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. Sell-side analysts predict that Pentair will post 4.27 EPS for the current year.

Pentair Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. Pentair’s dividend payout ratio is presently 24.47%.

Hedge Funds Weigh In On Pentair

Hedge funds have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC purchased a new position in Pentair during the 2nd quarter valued at about $25,000. Crewe Advisors LLC increased its holdings in Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 267 shares in the last quarter. Family Firm Inc. purchased a new position in Pentair during the 2nd quarter valued at about $48,000. Blue Trust Inc. increased its holdings in Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 327 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Pentair during the 1st quarter valued at about $56,000. 92.37% of the stock is currently owned by hedge funds and other 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.