Pentair (NYSE:PNR) Price Target Raised to $91.00

Pentair (NYSE:PNR) had its target price lifted by UBS Group from $83.00 to $91.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other analysts have also recently issued reports on PNR. Stifel Nicolaus upped their target price on Pentair from $88.00 to $94.00 and gave the company a buy rating in a report on Thursday, March 7th. Royal Bank of Canada upped their target price on Pentair from $101.00 to $103.00 and gave the company an outperform rating in a report on Wednesday. StockNews.com cut Pentair from a buy rating to a hold rating in a report on Friday, February 2nd. Oppenheimer upped their target price on Pentair from $88.00 to $90.00 and gave the company an outperform rating in a report on Wednesday. Finally, Bank of America raised Pentair from an underperform rating to a neutral rating and upped their price target for the company from $46.00 to $76.00 in a research note on Thursday, January 11th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Pentair has a consensus rating of Moderate Buy and a consensus target price of $89.93.

Pentair Stock Up 1.0 %

Shares of PNR opened at $79.96 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.94 and a current ratio of 1.90. Pentair has a one year low of $53.88 and a one year high of $85.81. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.50 and a beta of 1.20. The stock has a 50 day moving average price of $80.35 and a 200 day moving average price of $71.89.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. Equities research analysts forecast that Pentair will post 4.21 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s payout ratio is 24.47%.

Institutional Investors Weigh In On Pentair

Hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC raised its position in Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 154 shares in the last quarter. Assetmark Inc. raised its position in Pentair by 935.1% in the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 346 shares in the last quarter. Quent Capital LLC raised its position in Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 213 shares in the last quarter. IFP Advisors Inc raised its position in Pentair by 97.6% in the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 202 shares in the last quarter. Finally, Baystate Wealth Management LLC acquired a new stake in Pentair in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds 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.