Pentair’s (PNR) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Pentair (NYSE:PNR) in a research note released on Thursday,Benzinga reports. The brokerage currently has a $115.00 price target on the industrial products company’s stock.

PNR has been the topic of several other research reports. KeyCorp lifted their price objective on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price target on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. UBS Group boosted their price objective on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays increased their target price on Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.13.

Pentair Stock Up 0.8 %

Shares of NYSE PNR opened at $106.93 on Thursday. Pentair has a 52-week low of $62.63 and a 52-week high of $107.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The stock has a market cap of $17.67 billion, a P/E ratio of 26.73, a P/E/G ratio of 1.89 and a beta of 1.19. The firm has a 50 day moving average price of $99.38 and a 200 day moving average price of $88.18.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. Analysts expect that Pentair will post 4.28 EPS for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Friday, October 18th. Pentair’s payout ratio is 23.00%.

Insider Buying and Selling at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Pentair

Institutional investors have recently modified their holdings of the business. Opal Wealth Advisors LLC acquired a new stake in Pentair in the 2nd quarter worth about $25,000. Crewe Advisors LLC increased its holdings in shares of 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 purchasing an additional 267 shares during the period. Quarry LP raised its position in shares of Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after buying an additional 134 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Pentair in the second quarter valued at approximately $48,000. Finally, Blue Trust Inc. grew its position in 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. 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.