Pentair (NYSE:PNR) PT Raised to $103.00

Pentair (NYSE:PNR) had its price target upped by The Goldman Sachs Group from $93.00 to $103.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

A number of other equities analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Stifel Nicolaus boosted their price objective on shares of Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Barclays upped their price target on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $104.80.

Pentair Price Performance

Pentair stock opened at $98.96 on Wednesday. Pentair has a 1 year low of $57.40 and a 1 year high of $101.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.60. The firm has a 50 day moving average price of $92.82 and a 200 day moving average price of $84.94. The company has a market cap of $16.43 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.76 and a beta of 1.20.

Pentair (NYSE:PNR) last announced 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 company 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 quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. Sell-side analysts predict that Pentair will post 4.27 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, October 18th. Pentair’s payout ratio is currently 24.47%.

Institutional Trading of Pentair

Several institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its position in shares of Pentair by 5.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock worth $15,820,000 after purchasing an additional 8,966 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Pentair by 222.8% in the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock worth $4,328,000 after acquiring an additional 34,959 shares in the last quarter. Norden Group LLC bought a new stake in shares of Pentair in the 1st quarter valued at approximately $1,103,000. Swedbank AB raised its position in shares of 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 in the last quarter. Finally, ORG Partners LLC bought a new position in Pentair during the second quarter worth $631,000. 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.