Pentair (NYSE:PNR) Price Target Raised to $108.00 at Barclays

Pentair (NYSE:PNR) had its price objective raised by Barclays from $105.00 to $108.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the company. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Mizuho raised their target price on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Northcoast Research lowered shares of Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. KeyCorp raised their price objective on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Royal Bank of Canada boosted their target price on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Trading Down 0.3 %

Shares of Pentair stock opened at $98.00 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65. The company has a market capitalization of $16.22 billion, a P/E ratio of 24.81, a PEG ratio of 1.78 and a beta of 1.20. Pentair has a 1 year low of $57.18 and a 1 year high of $99.96. The company’s fifty day moving average is $92.24 and its two-hundred day moving average is $84.73.

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 analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. Analysts forecast that Pentair will post 4.26 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.94%. Pentair’s dividend payout ratio is presently 23.29%.

Hedge Funds Weigh In On Pentair

Hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale lifted its holdings in shares of Pentair by 352.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after purchasing an additional 1,228,635 shares in the last quarter. Swedbank AB purchased a new stake in Pentair in the 1st quarter valued at approximately $97,083,000. Massachusetts Financial Services Co. MA grew its holdings in Pentair by 91.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after buying an additional 996,325 shares during the last quarter. Interval Partners LP increased its position in Pentair by 289.6% during the second quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after buying an additional 710,703 shares in the last quarter. Finally, AMF Tjanstepension AB acquired a new position in shares of Pentair in the first quarter worth $45,096,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

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.