Pentair (NYSE:PNR) Price Target Raised to $126.00

Pentair (NYSE:PNR) had its price objective hoisted by Stifel Nicolaus from $115.00 to $126.00 in a research note released on Wednesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

Several other equities research analysts have also issued reports on PNR. The Goldman Sachs Group raised their price objective on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Oppenheimer raised their price target on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. KeyCorp boosted 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, October 23rd. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Citigroup upped their price target on shares of Pentair from $113.00 to $126.00 and gave the company a “buy” rating in a report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.38.

Pentair Trading Down 1.0 %

PNR stock opened at $107.16 on Wednesday. The firm has a fifty day moving average price of $103.23 and a 200 day moving average price of $90.75. Pentair has a fifty-two week low of $68.08 and a fifty-two week high of $110.71. The firm has a market cap of $17.71 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The business 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 business’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. Sell-side analysts anticipate that Pentair will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Friday, October 18th. Pentair’s dividend payout ratio is 23.00%.

Insider Activity

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Pentair

Large investors have recently modified their holdings of the business. Harbour Investments Inc. increased its holdings in Pentair by 10.7% during the third quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock valued at $644,000 after buying an additional 636 shares during the period. Swedbank AB boosted its position in Pentair by 0.9% during the 2nd quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock valued at $87,885,000 after acquiring an additional 10,000 shares in the last quarter. Algert Global LLC purchased a new position in shares of Pentair in the 3rd quarter valued at $479,000. FMR LLC raised its position in shares of Pentair by 4.7% in the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after acquiring an additional 258,134 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its stake in shares of Pentair by 47.4% during the 3rd quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock worth $1,944,000 after purchasing an additional 6,391 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

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.