Pentair (NYSE:PNR) Price Target Raised to $105.00

Pentair (NYSE:PNR) had its price objective raised by Barclays from $96.00 to $105.00 in a research note released on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on PNR. Royal Bank of Canada boosted their price target on shares of Pentair from $99.00 to $101.00 and gave the company an outperform rating in a research report on Wednesday, July 24th. Oppenheimer lifted their price target on Pentair from $92.00 to $98.00 and gave the company an outperform rating in a research report on Wednesday, July 24th. StockNews.com raised shares of Pentair from a hold rating to a buy rating in a research report on Wednesday, July 24th. Northcoast Research cut Pentair from a buy rating to a neutral rating in a research note on Friday, July 19th. Finally, KeyCorp increased their price objective on Pentair from $92.00 to $97.00 and gave the company an overweight rating in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $93.47.

Pentair Stock Performance

Pentair stock opened at $95.88 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The firm has a market cap of $15.87 billion, a P/E ratio of 25.50, a P/E/G ratio of 1.75 and a beta of 1.20. Pentair has a 1-year low of $57.18 and a 1-year high of $98.23. The firm has a 50-day moving average of $88.72 and a 200-day moving average of $83.43.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business posted $1.03 EPS. The business’s revenue was up 1.6% on a year-over-year basis. Sell-side analysts expect that Pentair will post 4.26 EPS for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.96%. Pentair’s dividend payout ratio is presently 24.47%.

Institutional Trading of Pentair

Several institutional investors have recently made changes to their positions in PNR. Millennium Management LLC boosted its stake in Pentair by 0.7% during the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock worth $225,779,000 after buying an additional 20,946 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Pentair by 2.0% during the 2nd 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 during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Pentair by 91.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after purchasing an additional 996,325 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Pentair by 6.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock valued at $125,704,000 after purchasing an additional 105,724 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in Pentair by 352.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after purchasing an additional 1,228,635 shares during the period. Hedge funds and other institutional investors 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.