Pentair (NYSE:PNR) Price Target Raised to $97.00

Pentair (NYSE:PNR) had its target price lifted by KeyCorp from $92.00 to $97.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other brokerages also recently weighed in on PNR. Citigroup upped their price target on shares of Pentair from $85.00 to $101.00 and gave the stock a buy rating in a report on Monday, April 8th. Northcoast Research cut shares of Pentair from a buy rating to a neutral rating in a research report on Friday, July 19th. Barclays increased their price objective on shares of Pentair from $92.00 to $95.00 and gave the stock an overweight rating in a research report on Wednesday, April 24th. UBS Group increased their price objective 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. Finally, Stifel Nicolaus raised their price target on shares of Pentair from $94.00 to $100.00 and gave the stock a buy rating in a report on Thursday, July 18th. 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, Pentair has a consensus rating of Moderate Buy and a consensus price target of $92.87.

Pentair Trading Up 2.8 %

Shares of NYSE:PNR opened at $88.50 on Wednesday. The stock has a market capitalization of $14.65 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.55 and a beta of 1.21. The company’s 50-day moving average price is $79.33 and its two-hundred day moving average price is $78.56. Pentair has a one year low of $57.18 and a one year high of $88.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 1.17.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business earned $1.03 EPS. Pentair’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that Pentair will post 4.25 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s payout ratio is currently 24.47%.

Insiders Place Their Bets

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of Pentair 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 sale, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Pentair

Several hedge funds have recently bought and sold shares of the company. Kintegral Advisory LLC purchased a new position in Pentair during the second quarter valued at approximately $3,450,000. Atomi Financial Group Inc. purchased a new position in Pentair during the second quarter valued at approximately $240,000. Allspring Global Investments Holdings LLC grew its stake in Pentair by 1.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock valued at $610,000 after acquiring an additional 121 shares in the last quarter. State of Michigan Retirement System grew its stake in Pentair by 0.4% during the second quarter. State of Michigan Retirement System now owns 45,464 shares of the industrial products company’s stock valued at $3,486,000 after acquiring an additional 200 shares in the last quarter. Finally, Addison Capital Co lifted its position in Pentair by 45.3% during the second quarter. Addison Capital Co now owns 8,979 shares of the industrial products company’s stock valued at $688,000 after purchasing an additional 2,798 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

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.