Pentair (NYSE:PNR) Now Covered by Wolfe Research

Wolfe Research began coverage on shares of Pentair (NYSE:PNR) in a research note released on Tuesday morning, MarketBeat reports. The firm issued an outperform rating and a $125.00 target price on the industrial products company’s stock.

A number of other equities analysts have also recently commented on PNR. Oppenheimer lifted their price target on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. TD Cowen upped their price objective on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, UBS Group increased their price objective on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $106.38.

Pentair Trading Down 0.1 %

Shares of Pentair stock opened at $108.96 on Tuesday. Pentair has a 12-month low of $63.09 and a 12-month high of $110.71. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $100.30 and its 200-day moving average is $88.71. The stock has a market cap of $18.00 billion, a P/E ratio of 27.24, a P/E/G ratio of 1.92 and a beta of 1.19.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 earnings per share. Equities research analysts predict that Pentair will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.23 per share. The ex-dividend date was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.84%. Pentair’s payout ratio is presently 23.00%.

Insider Transactions at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the sale, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PNR. DekaBank Deutsche Girozentrale increased its holdings in Pentair by 352.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after buying an additional 1,228,635 shares during the period. Swedbank AB bought a new position in Pentair in the first quarter valued at approximately $97,083,000. Massachusetts Financial Services Co. MA increased its stake in Pentair by 91.7% in the second 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 acquiring an additional 996,325 shares during the last quarter. Interval Partners LP raised 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 valued at $73,305,000 after purchasing an additional 710,703 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Pentair by 862.2% during the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock worth $43,212,000 after purchasing an additional 395,962 shares during the last quarter. Institutional investors and hedge funds 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.