Pentair (NYSE:PNR) Price Target Raised to $115.00

Pentair (NYSE:PNR) had its target price increased by Oppenheimer from $110.00 to $115.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Several other research firms have also issued reports on PNR. Stifel Nicolaus upped their price target on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. UBS Group increased their price objective on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Barclays raised their target price on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.13.

Pentair Stock Performance

Shares of NYSE PNR opened at $105.92 on Wednesday. The stock’s 50-day moving average is $97.70 and its 200 day moving average is $87.25. The stock has a market cap of $17.50 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 1.90 and a beta of 1.19. Pentair has a 1-year low of $62.04 and a 1-year high of $107.78. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same period last year, the firm posted $0.94 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Pentair will post 4.28 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio is currently 23.00%.

Insiders Place Their Bets

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the sale, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pentair

Several institutional investors and hedge funds have recently added to or reduced their stakes in PNR. State Street Corp grew its stake in shares of Pentair by 3.1% in the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after acquiring an additional 259,922 shares during the last quarter. FMR LLC boosted its stake in Pentair by 4.7% during the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after purchasing an additional 258,134 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Pentair by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after purchasing an additional 19,853 shares in the last quarter. Millennium Management LLC raised its stake in shares of Pentair by 0.7% in the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock worth $225,779,000 after purchasing an additional 20,946 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Pentair by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after purchasing an additional 53,787 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Company Profile

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.