Pentair (NYSE:PNR) Price Target Raised to $98.00

Pentair (NYSE:PNR) had its price target lifted by Oppenheimer from $92.00 to $98.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Several other equities analysts also recently weighed in on PNR. TD Cowen raised their target price on Pentair from $80.00 to $85.00 and gave the company a buy rating in a research report on Wednesday, April 24th. KeyCorp raised their target price on Pentair from $92.00 to $97.00 and gave the company an overweight rating in a research report on Wednesday. Royal Bank of Canada decreased their target price on Pentair from $103.00 to $99.00 and set an outperform rating on the stock in a research report on Tuesday, June 25th. Barclays raised their target price on Pentair from $92.00 to $95.00 and gave the company an overweight rating in a research report on Wednesday, April 24th. Finally, Citigroup raised their target price on Pentair from $85.00 to $101.00 and gave the company a buy rating in a research report on Monday, April 8th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Pentair has a consensus rating of Moderate Buy and a consensus target price of $92.87.

Pentair Stock Performance

Shares of PNR stock opened at $88.50 on Wednesday. The company has a market capitalization of $14.65 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.55 and a beta of 1.21. The business’s 50 day moving average is $79.42 and its two-hundred day moving average is $78.76. The company has a current ratio of 1.65, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51. Pentair has a 12-month low of $57.18 and a 12-month high of $88.96.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Pentair had a return on equity of 20.39% and a net margin of 16.05%. Pentair’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. Analysts expect that Pentair will post 4.25 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 annualized dividend and a yield of 1.04%. Pentair’s dividend payout ratio (DPR) is 24.47%.

Insiders Place Their Bets

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the sale, 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 legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Pentair

A number of institutional investors have recently modified their holdings of PNR. Kodai Capital Management LP acquired a new stake in shares of Pentair in the fourth quarter valued at $173,280,000. DekaBank Deutsche Girozentrale grew its stake in shares of Pentair by 352.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after buying an additional 1,228,635 shares in the last quarter. Swedbank AB acquired a new stake in shares of Pentair in the first quarter valued at $97,083,000. AMF Tjanstepension AB acquired a new stake in shares of Pentair in the first quarter valued at $45,096,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Pentair by 138.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company’s stock valued at $60,655,000 after buying an additional 484,810 shares in the last quarter. 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.