Pentair (NYSE:PNR) Sets New 52-Week High – Here’s Why

Pentair plc (NYSE:PNR)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $108.67 and last traded at $108.54, with a volume of 36851 shares traded. The stock had previously closed at $106.93.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Mizuho boosted their price target on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. UBS Group lifted their price objective on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Oppenheimer upped their price objective on shares of Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Barclays raised their target price on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Pentair in a research report on Thursday. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.13.

Pentair Trading Up 1.4 %

The firm has a market capitalization of $17.92 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 1.91 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The business’s 50-day moving average price is $99.38 and its 200 day moving average price is $88.22.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share 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 business had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. During the same period in the previous year, the business earned $0.94 EPS. The firm’s revenue was down 1.5% on a year-over-year basis. On average, equities analysts forecast that Pentair plc will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio is currently 23.00%.

Insiders Place Their Bets

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On Pentair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNR. Quarry LP boosted its position in Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 134 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in Pentair in the 2nd quarter valued at $25,000. Crewe Advisors LLC lifted its position in Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after buying an additional 267 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after buying an additional 327 shares during the last quarter. Finally, Family Firm Inc. bought a new position in shares of Pentair in the 2nd quarter valued at about $48,000. 92.37% of the stock is owned by institutional investors and hedge funds.

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.