Pentair (NYSE:PNR) Given New $91.00 Price Target at UBS Group

Pentair (NYSE:PNR) had its price target raised by UBS Group from $83.00 to $91.00 in a research note published on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the industrial products company’s stock.

A number of other equities research analysts have also recently issued reports on the company. Northcoast Research upgraded Pentair from a neutral rating to a buy rating and set a $100.00 price objective for the company in a report on Monday, April 15th. Bank of America upgraded Pentair from an underperform rating to a neutral rating and boosted their price objective for the stock from $46.00 to $76.00 in a report on Thursday, January 11th. Citigroup boosted their price objective on Pentair from $85.00 to $101.00 and gave the stock a buy rating in a report on Monday, April 8th. Stifel Nicolaus boosted their price objective on Pentair from $88.00 to $94.00 and gave the stock a buy rating in a report on Thursday, March 7th. Finally, Barclays lifted their price target on shares of Pentair from $90.00 to $92.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $89.93.

Pentair Price Performance

Shares of NYSE PNR opened at $78.99 on Wednesday. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.49 and a beta of 1.20. The business has a 50-day moving average of $80.19 and a 200-day moving average of $71.79. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 0.94. Pentair has a fifty-two week low of $52.28 and a fifty-two week high of $85.81.

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

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be paid a dividend of $0.23 per share. The ex-dividend date is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. Pentair’s payout ratio is presently 24.47%.

Institutional Trading of Pentair

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Direct Indexing L.P. grew its stake in shares of Pentair by 4.1% during the first quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock worth $304,000 after buying an additional 140 shares during the last quarter. Czech National Bank grew its stake in shares of Pentair by 0.5% during the first quarter. Czech National Bank now owns 29,094 shares of the industrial products company’s stock worth $2,486,000 after buying an additional 143 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Pentair by 82.4% during the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after buying an additional 154 shares during the last quarter. Oak Family Advisors LLC grew its stake in shares of Pentair by 1.6% during the first quarter. Oak Family Advisors LLC now owns 11,013 shares of the industrial products company’s stock worth $941,000 after buying an additional 169 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Pentair by 0.5% during the fourth quarter. M&T Bank Corp now owns 32,590 shares of the industrial products company’s stock worth $2,369,000 after buying an additional 172 shares during the last quarter. 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.