Pentair (NYSE:PNR) Given New $103.00 Price Target at Royal Bank of Canada

Pentair (NYSE:PNR) had its price objective boosted by Royal Bank of Canada from $101.00 to $103.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other brokerages also recently commented on PNR. The Goldman Sachs Group reissued a neutral rating and issued a $91.00 target price on shares of Pentair in a research note on Friday, March 22nd. Bank of America raised shares of Pentair from an underperform rating to a neutral rating and raised their target price for the company from $46.00 to $76.00 in a research note on Thursday, January 11th. Citigroup raised their target price on shares of Pentair from $85.00 to $101.00 and gave the company a buy rating in a research note on Monday, April 8th. Oppenheimer raised their target price on shares of Pentair from $88.00 to $90.00 and gave the company an outperform rating in a research note on Wednesday. Finally, Stifel Nicolaus raised their price target on shares of Pentair from $88.00 to $94.00 and gave the company a buy rating in a report on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $89.93.

Pentair Stock Performance

NYSE:PNR opened at $78.99 on Wednesday. Pentair has a 1-year low of $52.28 and a 1-year high of $85.81. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $80.19 and a 200-day simple moving average of $71.79. The firm has a market cap of $13.11 billion, a PE ratio of 21.01, a P/E/G ratio of 1.49 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. Pentair’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. On average, equities analysts expect that Pentair will post 4.2 EPS for the current year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Lindbrook Capital LLC boosted its holdings in shares of Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after buying an additional 154 shares during the period. Assetmark Inc. boosted its holdings in shares of Pentair by 935.1% in the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after buying an additional 346 shares during the period. Quent Capital LLC boosted its holdings in shares of Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after buying an additional 213 shares during the period. IFP Advisors Inc boosted its holdings in shares of Pentair by 97.6% in the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after buying an additional 202 shares during the period. Finally, Baystate Wealth Management LLC bought a new stake in Pentair in the 3rd quarter valued at about $30,000. 92.37% of the stock is owned by institutional investors and hedge funds.

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.