Pentair (NYSE:PNR) Price Target Raised to $115.00

Pentair (NYSE:PNR) had its target price increased by Oppenheimer from $110.00 to $115.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the company. StockNews.com lowered Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. UBS Group upped their target price on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. TD Cowen lifted their price target on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Northcoast Research downgraded Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Pentair currently has an average rating of “Moderate Buy” and a consensus target price of $105.13.

Pentair Stock Performance

Shares of PNR traded down $0.63 during trading hours on Wednesday, reaching $105.69. 32,844 shares of the company’s stock traded hands, compared to its average volume of 1,550,597. The firm has a market capitalization of $17.46 billion, a price-to-earnings ratio of 26.58, a P/E/G ratio of 1.86 and a beta of 1.19. The business’s fifty day simple moving average is $96.87 and its two-hundred day simple moving average is $86.94. Pentair has a twelve month low of $62.04 and a twelve month high of $107.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share. Analysts predict that Pentair will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced 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. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.87%. Pentair’s payout ratio is presently 23.00%.

Insider Transactions at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Public Sector Pension Investment Board increased its stake in shares of Pentair by 10.9% during the third quarter. Public Sector Pension Investment Board now owns 7,147 shares of the industrial products company’s stock worth $699,000 after purchasing an additional 700 shares during the period. Glenmede Trust Co. NA acquired a new stake in shares of Pentair during the third quarter worth $666,000. Townsquare Capital LLC grew its stake in shares of Pentair by 8.2% in the third quarter. Townsquare Capital LLC now owns 32,813 shares of the industrial products company’s stock valued at $3,209,000 after acquiring an additional 2,484 shares in the last quarter. Transamerica Financial Advisors Inc. increased its position in Pentair by 2,415.3% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,484 shares of the industrial products company’s stock worth $146,000 after acquiring an additional 1,425 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Pentair by 81.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 305,294 shares of the industrial products company’s stock worth $29,855,000 after purchasing an additional 136,971 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.