Royal Bank of Canada Raises Pentair (NYSE:PNR) Price Target to $115.00

Pentair (NYSE:PNR) had its price target increased by analysts at Royal Bank of Canada from $101.00 to $115.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 17.50% from the company’s current price.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price 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. Stifel Nicolaus upped their target price on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. KeyCorp upped their target price on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, TD Cowen upped their target price on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $104.80.

Pentair Price Performance

Shares of NYSE PNR traded down $0.45 on Wednesday, hitting $97.87. The company’s stock had a trading volume of 851,028 shares, compared to its average volume of 1,557,668. Pentair has a 12-month low of $57.18 and a 12-month high of $99.96. The company has a market capitalization of $16.20 billion, a price-to-earnings ratio of 24.77, a price-to-earnings-growth ratio of 1.78 and a beta of 1.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96. The stock has a 50 day moving average of $91.94 and a 200-day moving average of $84.63.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 earnings per share. As a group, research analysts predict that Pentair will post 4.26 EPS for the current year.

Institutional Trading of Pentair

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dakota Wealth Management raised its holdings in shares of Pentair by 190.5% in the 3rd quarter. Dakota Wealth Management now owns 175,574 shares of the industrial products company’s stock worth $17,169,000 after purchasing an additional 115,137 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Pentair in the 3rd quarter worth approximately $178,000. Assenagon Asset Management S.A. raised its holdings in shares of Pentair by 93.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 380,658 shares of the industrial products company’s stock worth $37,225,000 after purchasing an additional 184,003 shares in the last quarter. Greenleaf Trust raised its holdings in shares of Pentair by 10.2% in the 3rd quarter. Greenleaf Trust now owns 3,919 shares of the industrial products company’s stock worth $383,000 after purchasing an additional 364 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Pentair in the 3rd quarter worth approximately $1,270,000. 92.37% of the stock is currently 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.