Pentair (NYSE:PNR) PT Raised to $110.00 at KeyCorp

Pentair (NYSE:PNR) had its price objective upped by KeyCorp from $97.00 to $110.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price points to a potential upside of 12.67% from the company’s previous close.

Several other research analysts also recently commented on PNR. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada boosted their price target on shares of Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group raised their price objective on Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Stifel Nicolaus raised their price target on Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.33.

Pentair Price Performance

Shares of NYSE:PNR opened at $97.63 on Friday. Pentair has a one year low of $57.18 and a one year high of $98.23. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96. The firm has a market capitalization of $16.16 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 1.74 and a beta of 1.20. The company’s fifty day moving average price is $89.72 and its 200-day moving average price is $83.91.

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 the consensus estimate of $1.14 by $0.08. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share. On average, equities research analysts anticipate that Pentair will post 4.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pentair

A number of institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in shares of Pentair by 0.7% in the 2nd quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock worth $225,779,000 after buying an additional 20,946 shares during the period. Dimensional Fund Advisors LP boosted its stake in Pentair by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after acquiring an additional 53,787 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Pentair by 91.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after purchasing an additional 996,325 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Pentair by 6.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock valued at $125,704,000 after purchasing an additional 105,724 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Pentair by 352.5% during 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 purchasing an additional 1,228,635 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

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.