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

Shares of Pentair plc (NYSE:PNR) hit a new 52-week low on Wednesday. The company traded as low as $51.67 and last traded at $51.9610, with a volume of 521346 shares trading hands. The stock had previously closed at $52.94.

Analyst Ratings Changes

PNR has been the subject of several analyst reports. Seaport Research Partners lowered shares of Pentair from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 15th. Stifel Nicolaus restated a “hold” rating and issued a $65.00 target price (down from $103.00) on shares of Pentair in a research note on Thursday, July 16th. TD Cowen cut their price target on shares of Pentair from $75.00 to $65.00 and set a “sell” rating on the stock in a report on Wednesday, July 29th. The Goldman Sachs Group lowered their price objective on Pentair from $91.00 to $72.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. Finally, BNP Paribas Exane restated an “underperform” rating and set a $64.00 target price (down from $75.00) on shares of Pentair in a research note on Thursday, July 16th. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $87.19.

Pentair Stock Performance

The company has a current ratio of 1.45, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43. The company has a market cap of $8.34 billion, a PE ratio of 13.12, a P/E/G ratio of 1.35 and a beta of 1.04. The firm’s 50-day simple moving average is $60.50 and its two-hundred day simple moving average is $71.70.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.02. The business had revenue of $932.60 million during the quarter, compared to analysts’ expectations of $943.24 million. Pentair had a net margin of 16.24% and a return on equity of 20.62%. The business’s quarterly revenue was down 17.0% on a year-over-year basis. During the same quarter last year, the company posted $1.39 earnings per share. As a group, research analysts anticipate that Pentair plc will post 4.64 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, October 23rd. Pentair’s payout ratio is presently 27.14%.

Institutional Investors Weigh In On Pentair

Large investors have recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new stake in shares of Pentair in the fourth quarter worth about $4,174,000. Gotham Asset Management LLC raised its position in Pentair by 27.0% during the fourth quarter. Gotham Asset Management LLC now owns 491,817 shares of the industrial products company’s stock valued at $51,218,000 after acquiring an additional 104,674 shares in the last quarter. Amundi lifted its holdings in Pentair by 13.1% in the first quarter. Amundi now owns 4,237,659 shares of the industrial products company’s stock valued at $369,208,000 after acquiring an additional 491,758 shares during the period. Handelsbanken Fonder AB lifted its holdings in Pentair by 10.2% in the second quarter. Handelsbanken Fonder AB now owns 206,025 shares of the industrial products company’s stock valued at $15,794,000 after acquiring an additional 19,053 shares during the period. Finally, NEOS Investment Management LLC purchased a new stake in Pentair in the 2nd quarter worth approximately $331,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

About Pentair

Pentair plc (NYSE:PNR) is a water treatment and fluid management company that develops products and solutions for residential, commercial, industrial, and municipal customers. Its offerings are designed to help move, treat, filter, control, and conserve water across a range of applications.

The company’s products include pool pumps, filters, heaters, cleaners, lighting, automation systems, and related equipment, as well as water softeners, filtration systems, pumps, valves, controls, and other water-treatment technologies.