Mizuho Boosts Pentair (NYSE:PNR) Price Target to $110.00

Pentair (NYSE:PNR) had its target price raised by Mizuho from $100.00 to $110.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

A number of other research analysts have also issued reports on PNR. Royal Bank of Canada lifted their target price on Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Oppenheimer raised their target price on shares of Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. KeyCorp increased their price objective on shares of Pentair from $97.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft increased their target price on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.93.

Pentair Stock Down 0.0 %

Shares of NYSE PNR opened at $99.04 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $91.36 and its two-hundred day moving average is $84.40. Pentair has a 52-week low of $57.18 and a 52-week high of $99.95. The firm has a market cap of $16.39 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 1.77 and a beta of 1.20.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company posted $1.03 EPS. Pentair’s revenue was up 1.6% compared to the same quarter last year. Research analysts predict that Pentair will post 4.26 EPS for the current year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s dividend payout ratio is currently 23.29%.

Institutional Trading of Pentair

Several large investors have recently bought and sold shares of the company. American International Group Inc. boosted its position in shares of Pentair by 2.4% in the 4th quarter. American International Group Inc. now owns 44,720 shares of the industrial products company’s stock worth $3,252,000 after buying an additional 1,039 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Pentair by 28.0% during the 4th quarter. Wellington Management Group LLP now owns 221,599 shares of the industrial products company’s stock worth $16,112,000 after purchasing an additional 48,527 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Pentair by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 126,437 shares of the industrial products company’s stock worth $9,193,000 after purchasing an additional 1,813 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Pentair by 82.8% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 11,844 shares of the industrial products company’s stock worth $861,000 after purchasing an additional 5,366 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Pentair in the 4th quarter valued at approximately $834,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

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.