Pentair (NYSE:PNR) Price Target Raised to $110.00

Pentair (NYSE:PNR) had its target price increased by Oppenheimer from $98.00 to $110.00 in a report issued on Tuesday, Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

A number of other analysts have also issued reports on the company. Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Mizuho increased their target price on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. KeyCorp increased their target price on Pentair from $97.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Stifel Nicolaus increased their target price on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Stock Performance

PNR opened at $99.39 on Tuesday. The firm has a market cap of $16.45 billion, a PE ratio of 24.85, a P/E/G ratio of 1.76 and a beta of 1.20. The company has a quick ratio of 0.96, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $92.53 and a 200-day simple moving average of $84.83. Pentair has a fifty-two week low of $57.18 and a fifty-two week high of $99.96.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.94 EPS. As a group, equities analysts predict that Pentair will post 4.27 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s payout ratio is 23.00%.

Hedge Funds Weigh In On Pentair

Hedge funds have recently bought and sold shares of the business. Opal Wealth Advisors LLC bought a new position in Pentair during the second quarter valued at about $25,000. Crewe Advisors LLC increased its stake in Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. Family Firm Inc. bought a new stake in Pentair in the second quarter valued at approximately $48,000. Blue Trust Inc. boosted its holdings in shares of Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after buying an additional 327 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of Pentair in the first quarter valued at approximately $56,000. 92.37% of the stock is owned by institutional investors and hedge funds.

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.