TD Cowen Increases Pentair (NYSE:PNR) Price Target to $85.00

Pentair (NYSE:PNR) had its target price hoisted by TD Cowen from $80.00 to $85.00 in a research note issued to investors on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the industrial products company’s stock.

Other analysts have also issued reports about the company. StockNews.com lowered Pentair from a buy rating to a hold rating in a research note on Friday, February 2nd. Northcoast Research upgraded Pentair from a neutral rating to a buy rating and set a $100.00 price objective on the stock in a research report on Monday, April 15th. UBS Group lifted their price objective on Pentair from $83.00 to $91.00 and gave the stock a buy rating in a research report on Wednesday. Stifel Nicolaus lifted their price objective on Pentair from $88.00 to $94.00 and gave the stock a buy rating in a research report on Thursday, March 7th. Finally, Oppenheimer lifted their price objective on Pentair from $88.00 to $90.00 and gave the stock an outperform rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pentair has a consensus rating of Moderate Buy and a consensus target price of $89.93.

Pentair Stock Up 1.0 %

Pentair stock opened at $79.96 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.90 and a debt-to-equity ratio of 0.63. Pentair has a 52 week low of $53.88 and a 52 week high of $85.81. The business’s 50-day moving average price is $80.45 and its 200 day moving average price is $72.00. The firm has a market cap of $13.27 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 1.38 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. Pentair’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. As a group, sell-side analysts anticipate that Pentair will post 4.24 earnings per share for the current year.

Pentair Announces Dividend

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

Institutional Investors Weigh In On Pentair

Institutional investors have recently modified their holdings of the company. Lindbrook Capital LLC grew its stake in shares of 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 buying an additional 154 shares in the last quarter. Assetmark Inc. grew its stake 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 buying an additional 346 shares in the last quarter. Quent Capital LLC grew its stake 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 buying an additional 213 shares in the last quarter. IFP Advisors Inc grew its stake 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 buying an additional 202 shares in the last quarter. Finally, Baystate Wealth Management LLC acquired a new stake in shares of Pentair in the third quarter valued at $30,000. 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.