Pentair (NYSE:PNR) Sets New 1-Year Low – What’s Next?

Shares of Pentair plc (NYSE:PNR) reached a new 52-week low during trading on Thursday . The company traded as low as $70.61 and last traded at $71.3060, with a volume of 263508 shares. The stock had previously closed at $72.45.

Analysts Set New Price Targets

PNR has been the topic of a number of research analyst reports. Bank of America decreased their price objective on shares of Pentair from $100.00 to $88.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. Barclays decreased their price objective on shares of Pentair from $95.00 to $92.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Citigroup decreased their price objective on shares of Pentair from $112.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings downgraded shares of Pentair from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $125.00 price objective (down from $135.00) on shares of Pentair in a report on Tuesday, March 31st. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Pentair has a consensus rating of “Hold” and an average target price of $107.86.

Pentair Trading Down 0.6%

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.19. The company has a market cap of $11.46 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.21 and a beta of 1.10. The business’s 50-day simple moving average is $82.82 and its 200-day simple moving average is $95.38.

Pentair (NYSE:PNR) last announced its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 earnings per share. Research analysts predict that Pentair plc will post 5.35 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, July 24th. This represents a $1.08 dividend on an annualized basis and a yield of 1.5%. Pentair’s payout ratio is presently 26.47%.

Hedge Funds Weigh In On Pentair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNR. Sivia Capital Partners LLC acquired a new position in Pentair during the second quarter worth about $222,000. American Century Companies Inc. raised its position in Pentair by 5.8% during the second quarter. American Century Companies Inc. now owns 9,350 shares of the industrial products company’s stock worth $960,000 after acquiring an additional 513 shares during the last quarter. Cerity Partners LLC raised its position in Pentair by 27.2% during the second quarter. Cerity Partners LLC now owns 53,959 shares of the industrial products company’s stock worth $5,539,000 after acquiring an additional 11,523 shares during the last quarter. Sei Investments Co. raised its position in Pentair by 54.7% during the second quarter. Sei Investments Co. now owns 76,469 shares of the industrial products company’s stock worth $7,850,000 after acquiring an additional 27,053 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Pentair by 101.8% during the second quarter. Treasurer of the State of North Carolina now owns 338,368 shares of the industrial products company’s stock worth $34,737,000 after acquiring an additional 170,707 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

About Pentair

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.