Deutsche Bank Aktiengesellschaft Boosts Pentair (NYSE:PNR) Price Target to $98.00

Pentair (NYSE:PNR) had its price target lifted by Deutsche Bank Aktiengesellschaft from $90.00 to $98.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other research analysts have also recently weighed in on the company. Stifel Nicolaus boosted their price objective on Pentair from $100.00 to $101.00 and gave the stock a buy rating in a research report on Wednesday. Northcoast Research cut Pentair from a buy rating to a neutral rating in a research report on Friday, July 19th. KeyCorp boosted their price objective on Pentair from $92.00 to $97.00 and gave the company an overweight rating in a research note on Wednesday. Barclays boosted their price objective on Pentair from $92.00 to $95.00 and gave the company an overweight rating in a research note on Wednesday, April 24th. Finally, Oppenheimer upped their target price on Pentair from $92.00 to $98.00 and gave the stock an outperform rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $92.87.

Pentair Stock Up 2.8 %

Shares of NYSE:PNR opened at $88.50 on Wednesday. The stock has a market cap of $14.65 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.55 and a beta of 1.21. The company has a quick ratio of 1.17, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. Pentair has a 12-month low of $57.18 and a 12-month high of $88.96. The business’s 50 day moving average is $79.33 and its 200 day moving average is $78.56.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.08. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a return on equity of 20.39% and a net margin of 16.05%. Pentair’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, sell-side analysts forecast that Pentair will post 4.25 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s dividend payout ratio is presently 24.47%.

Insider Activity at Pentair

In related news, CEO Jerome O. Pedretti sold 24,747 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the sale, the chief executive officer now directly owns 38,538 shares in the company, valued at approximately $3,254,534.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pentair

Several institutional investors have recently bought and sold shares of the stock. Lindbrook Capital LLC lifted its holdings in Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after buying an additional 154 shares during the period. Opal Wealth Advisors LLC purchased a new stake in Pentair in the 2nd quarter worth approximately $25,000. Quent Capital LLC lifted its holdings in Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after buying an additional 213 shares during the period. Family Firm Inc. purchased a new stake in Pentair in the 2nd quarter worth approximately $48,000. Finally, Rational Advisors LLC lifted its holdings in Pentair by 200.0% in the 1st quarter. Rational Advisors LLC now owns 633 shares of the industrial products company’s stock worth $54,000 after buying an additional 422 shares during the period. 92.37% of the stock is currently owned by hedge funds and other 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.