Royal Bank of Canada Cuts Pentair (NYSE:PNR) Price Target to $99.00

Pentair (NYSE:PNR) had its price objective cut by equities researchers at Royal Bank of Canada from $103.00 to $99.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 31.82% from the company’s previous close.

A number of other research firms have also recently issued reports on PNR. Oppenheimer raised their price target on shares of Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. KeyCorp boosted their price target on Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Citigroup raised their price objective on Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. BNP Paribas started coverage on Pentair in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 target price on the stock. Finally, UBS Group raised their price target on shares of Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.67.

Pentair Stock Up 1.1 %

NYSE:PNR opened at $75.10 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. Pentair has a 1-year low of $57.18 and a 1-year high of $85.84. The company has a 50-day moving average of $80.32 and a 200 day moving average of $77.46. The firm has a market cap of $12.47 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22.

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

Insider Activity at Pentair

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total value of $2,089,884.15. Following the transaction, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pentair

A number of institutional investors and hedge funds have recently made changes to their positions in PNR. First Trust Direct Indexing L.P. boosted its holdings in Pentair by 4.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock valued at $304,000 after acquiring an additional 140 shares during the period. Czech National Bank lifted its position in shares of Pentair by 0.5% during the first quarter. Czech National Bank now owns 29,094 shares of the industrial products company’s stock worth $2,486,000 after purchasing an additional 143 shares in the last quarter. Lindbrook Capital LLC boosted 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 purchasing an additional 154 shares during the period. Oak Family Advisors LLC grew its holdings in shares of Pentair by 1.6% in the first quarter. Oak Family Advisors LLC now owns 11,013 shares of the industrial products company’s stock valued at $941,000 after purchasing an additional 169 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Pentair by 19.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,046 shares of the industrial products company’s stock worth $83,000 after buying an additional 170 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

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.