Pentair (NYSE:PNR) Price Target Raised to $120.00

Pentair (NYSE:PNR) had its price target boosted by equities researchers at Barclays from $108.00 to $120.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential upside of 11.00% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wolfe Research started coverage on Pentair in a research note on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective on the stock. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price target on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, KeyCorp lifted their price target on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Pentair presently has an average rating of “Moderate Buy” and a consensus price target of $107.13.

Pentair Stock Performance

Shares of NYSE:PNR traded down $0.65 during midday trading on Thursday, hitting $108.11. The stock had a trading volume of 98,856 shares, compared to its average volume of 1,526,933. The company has a market capitalization of $17.86 billion, a PE ratio of 27.03, a P/E/G ratio of 1.94 and a beta of 1.20. Pentair has a 1 year low of $65.75 and a 1 year high of $110.71. The stock has a 50 day moving average price of $101.60 and a two-hundred day moving average price of $89.59. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

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

Insider Activity at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following 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 15.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Pentair

Institutional investors and hedge funds have recently bought and sold shares of the company. Harbour Investments Inc. grew its holdings in Pentair by 10.7% during the 3rd quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock valued at $644,000 after buying an additional 636 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Pentair by 222.8% during the first quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock valued at $4,328,000 after buying an additional 34,959 shares during the period. Swedbank AB lifted its position in Pentair by 0.9% during the 2nd quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock valued at $87,885,000 after acquiring an additional 10,000 shares during the period. ORG Partners LLC purchased a new stake in shares of Pentair in the 2nd quarter worth approximately $631,000. Finally, FMR LLC increased its holdings in shares of Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after acquiring an additional 258,134 shares in the last quarter. 92.37% of the stock is owned by institutional investors.

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.