Pentair (NYSE:PNR) Hits New 52-Week High Following Analyst Upgrade

Pentair plc (NYSE:PNR) shares hit a new 52-week high during mid-day trading on Wednesday after Oppenheimer raised their price target on the stock from $110.00 to $115.00. Oppenheimer currently has an outperform rating on the stock. Pentair traded as high as $107.56 and last traded at $107.54, with a volume of 419711 shares changing hands. The stock had previously closed at $104.08.

A number of other equities research analysts also recently commented on the stock. TD Cowen increased their price objective on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus upped their price objective on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays raised their target price on Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.13.

Insiders Place Their Bets

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pentair

A number of hedge funds have recently made changes to their positions in PNR. Opal Wealth Advisors LLC purchased a new stake in shares of Pentair during the 2nd quarter worth about $25,000. Crewe Advisors LLC lifted its holdings in shares of 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 purchasing an additional 267 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Pentair during the second quarter worth $48,000. Blue Trust Inc. lifted its position in shares of Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 327 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Pentair during the 1st quarter worth about $56,000. Institutional investors own 92.37% of the company’s stock.

Pentair Trading Down 0.4 %

The business has a 50 day moving average price of $97.29 and a 200-day moving average price of $87.07. The company has a market cap of $17.49 billion, a P/E ratio of 26.47, a PEG ratio of 1.86 and a beta of 1.19. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same quarter in the previous year, the company earned $0.94 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts forecast that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

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.