Pentair (NYSE:PNR) Sets New 1-Year High Following Analyst Upgrade

Pentair plc (NYSE:PNR) reached a new 52-week high during mid-day 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. The stock had previously closed at $104.08.

PNR has been the subject of a number of other reports. Stifel Nicolaus increased their target price on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. KeyCorp raised their target price on shares of Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Northcoast Research lowered shares of Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Barclays lifted their price target on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Pentair currently has an average rating of “Moderate Buy” and an average target price of $105.13.

Insider Buying and Selling at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at $1,916,853.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Pentair

A number of institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Pentair by 1.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 121 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of Pentair by 3.9% during the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after acquiring an additional 128 shares during the period. Fifth Third Bancorp raised its holdings in shares of Pentair by 3.8% during the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after acquiring an additional 129 shares during the period. Inspire Advisors LLC raised its holdings in shares of Pentair by 1.6% during the third quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock valued at $794,000 after acquiring an additional 130 shares during the period. Finally, Retirement Systems of Alabama raised its holdings in shares of Pentair by 0.4% during the second quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock valued at $2,808,000 after acquiring an additional 139 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Price Performance

The stock’s fifty day moving average price is $96.47 and its 200-day moving average price is $86.80. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The firm has a market cap of $17.78 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 1.86 and a beta of 1.19.

Pentair (NYSE:PNR) last posted its 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. The company had revenue of $993.40 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.94 earnings per share. Equities research analysts predict that Pentair plc will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s payout ratio is currently 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.