TD Cowen Increases Pentair (NYSE:PNR) Price Target to $110.00

Pentair (NYSE:PNR) had its price target increased by TD Cowen from $95.00 to $110.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

PNR has been the topic of a number of other reports. Northcoast Research cut Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Royal Bank of Canada raised their target price on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group boosted their price target on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday. Stifel Nicolaus raised their price objective on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer boosted their target price on Pentair from $98.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.80.

Pentair Price Performance

Shares of NYSE:PNR opened at $98.00 on Wednesday. The firm’s 50 day simple moving average is $92.24 and its two-hundred day simple moving average is $84.73. 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 company has a market capitalization of $16.22 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.78 and a beta of 1.20. Pentair has a 1-year low of $57.18 and a 1-year high of $99.96.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.05% and a return on equity of 20.39%. Pentair’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. Research analysts expect that Pentair will post 4.26 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a $0.23 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.94%. Pentair’s dividend payout ratio (DPR) is presently 23.29%.

Hedge Funds Weigh In On Pentair

A number of large investors have recently made changes to their positions in PNR. Opal Wealth Advisors LLC bought a new position in shares of Pentair during the second quarter valued at approximately $25,000. Crewe Advisors LLC boosted its holdings in Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 267 shares during the period. Family Firm Inc. bought a new position in Pentair in the 2nd quarter valued at $48,000. Blue Trust Inc. increased its stake in Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 327 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of Pentair during the first quarter worth $56,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

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.