Pentair (NYSE:PNR) Reaches New 12-Month High – Should You Buy?

Pentair plc (NYSE:PNR) shares hit a new 52-week high during trading on Monday . The company traded as high as $101.18 and last traded at $101.18, with a volume of 137931 shares trading hands. The stock had previously closed at $98.47.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PNR. Oppenheimer boosted their price target on shares of Pentair from $98.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft increased their price target on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. KeyCorp upped their price objective on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Mizuho boosted their target price on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and an average target price of $104.80.

Pentair Price Performance

The firm has a market capitalization of $17.85 billion, a P/E ratio of 25.57, a PEG ratio of 1.75 and a beta of 1.19. The company has a fifty day moving average of $94.81 and a 200 day moving average of $85.93. 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 issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same period last year, the business posted $0.94 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.85%. Pentair’s dividend payout ratio is presently 23.00%.

Insider Activity

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s 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 sale, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC bought a new position in Pentair during the second quarter valued at about $25,000. Crewe Advisors LLC raised its holdings in shares of Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 267 shares during the period. Family Firm Inc. purchased a new position in Pentair in the second quarter valued at approximately $48,000. Blue Trust Inc. grew its holdings in Pentair by 165.2% during the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 327 shares during the period. Finally, LRI Investments LLC purchased a new stake in Pentair in the first quarter worth $56,000. Hedge funds and other institutional investors 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.