Pentair (NYSE:PNR) Price Target Raised to $110.00

Pentair (NYSE:PNR) had its price target increased by TD Cowen from $95.00 to $110.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other brokerages also recently commented on PNR. Oppenheimer boosted their target price on shares of Pentair from $98.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Northcoast Research downgraded shares of Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Barclays upped their price target on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Pentair presently has an average rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Stock Down 0.4 %

Shares of NYSE:PNR opened at $98.96 on Wednesday. Pentair has a 52 week low of $57.40 and a 52 week high of $101.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.60. The company’s fifty day moving average is $92.82 and its 200-day moving average is $84.94. The company has a market capitalization of $16.43 billion, a PE ratio of 26.32, a P/E/G ratio of 1.76 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its 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 company 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 firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts predict that Pentair will post 4.27 earnings per share for the current fiscal year.

Pentair Dividend Announcement

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 paid 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 (DPR) is presently 24.47%.

Institutional Trading of Pentair

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Pentair by 1.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock valued at $610,000 after acquiring an additional 121 shares during the last quarter. Wedmont Private Capital increased its stake in shares of Pentair by 3.9% in the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after acquiring an additional 128 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Pentair by 3.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after acquiring an additional 129 shares during the last quarter. Inspire Advisors LLC increased its stake in shares of Pentair by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock valued at $794,000 after acquiring an additional 130 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in Pentair by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after purchasing an additional 139 shares in the last quarter. 92.37% of the stock is owned by 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.