Pentair (NYSE:PNR) Reaches New 12-Month High After Analyst Upgrade

Pentair plc (NYSE:PNR) shares reached a new 52-week high during trading on Wednesday after Oppenheimer raised their price target on the stock from $110.00 to $115.00. Oppenheimer currently has an outperform rating on the stock. Pentair traded as high as $107.56 and last traded at $107.54, with a volume of 419711 shares traded. The stock had previously closed at $104.08.

Several other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their target price on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. UBS Group upped their price objective on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus raised their price target on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.13.

Insider Buying and Selling

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’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 owns 19,232 shares in the company, valued at approximately $1,916,853.44. This trade represents a 15.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pentair

A number of hedge funds and other institutional investors have recently bought and sold shares of PNR. True Wealth Design LLC lifted its position in Pentair by 4,450.0% during the third quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 623 shares during the last quarter. Edgestream Partners L.P. bought a new stake in Pentair during the third quarter valued at $3,525,000. Verition Fund Management LLC bought a new stake in shares of Pentair in the 3rd quarter valued at $14,650,000. Captrust Financial Advisors raised its stake in Pentair by 8.8% during the 3rd quarter. Captrust Financial Advisors now owns 38,609 shares of the industrial products company’s stock worth $3,776,000 after buying an additional 3,129 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in shares of Pentair by 10.9% during the third quarter. Public Sector Pension Investment Board now owns 7,147 shares of the industrial products company’s stock valued at $699,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Price Performance

The company has a fifty day moving average of $97.29 and a 200-day moving average of $87.07. The firm has a market cap of $17.49 billion, a P/E ratio of 26.47, a P/E/G ratio of 1.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91.

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

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a $0.23 dividend. 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 (DPR) is 23.00%.

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.