Barclays Raises Pentair (NYSE:PNR) Price Target to $95.00

Pentair (NYSE:PNR) had its target price upped by Barclays from $92.00 to $95.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other research analysts have also recently issued reports on the stock. Bank of America upgraded shares of Pentair from an underperform rating to a neutral rating and lifted their price objective for the company from $46.00 to $76.00 in a report on Thursday, January 11th. The Goldman Sachs Group reiterated a neutral rating and set a $91.00 price objective on shares of Pentair in a report on Friday, March 22nd. KeyCorp lifted their price objective on shares of Pentair from $82.00 to $92.00 and gave the company an overweight rating in a report on Thursday, March 7th. Northcoast Research upgraded shares of Pentair from a neutral rating to a buy rating and set a $100.00 price objective for the company in a report on Monday, April 15th. Finally, Royal Bank of Canada lifted their price objective on shares of Pentair from $101.00 to $103.00 and gave the company an outperform rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $89.93.

Pentair Trading Up 1.0 %

PNR opened at $79.96 on Wednesday. Pentair has a 1-year low of $53.88 and a 1-year high of $85.81. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. The company has a market cap of $13.28 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. The company has a fifty day moving average price of $80.35 and a two-hundred day moving average price of $71.89.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. Analysts predict that Pentair will post 4.21 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Thursday, April 18th. Pentair’s payout ratio is 24.47%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC boosted its stake in Pentair by 82.4% in the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 154 shares during the last quarter. Assetmark Inc. raised its position in shares of Pentair by 935.1% in the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 346 shares during the period. Quent Capital LLC raised its position in shares of Pentair by 112.7% in the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 213 shares during the period. IFP Advisors Inc raised its position in shares of Pentair by 97.6% in the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 202 shares during the period. Finally, Baystate Wealth Management LLC bought a new stake in shares of Pentair in the third quarter valued at approximately $30,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

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.