Royal Bank of Canada Increases Pentair (NYSE:PNR) Price Target to $115.00

Pentair (NYSE:PNR) had its target price hoisted by Royal Bank of Canada from $101.00 to $115.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other research firms have also issued reports on PNR. JPMorgan Chase & Co. raised their target price on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays raised their price objective on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. TD Cowen raised their price target on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Trading Down 0.4 %

NYSE:PNR opened at $98.96 on Wednesday. The company’s 50 day moving average is $92.82 and its 200-day moving average is $84.94. The company has a quick ratio of 0.96, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. Pentair has a 12 month low of $57.40 and a 12 month high of $101.00. The firm has a market cap of $16.43 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.76 and a beta of 1.20.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. During the same quarter last year, the firm posted $0.94 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. Equities analysts anticipate that Pentair will post 4.27 EPS for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s dividend payout ratio (DPR) is 24.47%.

Institutional Inflows and Outflows

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