TD Cowen Boosts Pentair (NYSE:PNR) Price Target to $85.00

Pentair (NYSE:PNR) had its price objective lifted by TD Cowen from $80.00 to $85.00 in a report published on Wednesday morning, Benzinga reports. TD Cowen currently has a buy rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on the stock. Bank of America upgraded shares of Pentair from an underperform rating to a neutral rating and raised their target price for the stock from $46.00 to $76.00 in a report on Thursday, January 11th. Barclays raised their target price on shares of Pentair from $92.00 to $95.00 and gave the stock an overweight rating in a report on Wednesday. Stifel Nicolaus raised their target price on shares of Pentair from $88.00 to $94.00 and gave the stock a buy rating in a report on Thursday, March 7th. Northcoast Research upgraded shares of Pentair from a neutral rating to a buy rating and set a $100.00 target price on the stock in a report on Monday, April 15th. Finally, BNP Paribas began coverage on shares of Pentair in a report on Tuesday, March 12th. They issued a neutral rating and a $86.00 target price on the stock. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pentair presently has an average rating of Moderate Buy and a consensus target price of $89.93.

Pentair Stock Up 1.0 %

Shares of NYSE PNR opened at $79.96 on Wednesday. Pentair has a one year low of $53.88 and a one year high of $85.81. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 0.94. The firm’s 50 day simple moving average is $80.45 and its two-hundred day simple moving average is $72.00. The stock has a market capitalization of $13.27 billion, a P/E ratio of 21.27, a PEG ratio of 1.38 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the business earned $0.91 earnings per share. The business’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, analysts expect that Pentair will post 4.24 EPS for the current fiscal year.

Pentair Dividend Announcement

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

Hedge Funds Weigh In On Pentair

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its position in Pentair by 82.4% during the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after buying an additional 154 shares during the period. Assetmark Inc. increased its holdings in Pentair by 935.1% in the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after buying an additional 346 shares in the last quarter. Quent Capital LLC increased its holdings in Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after buying an additional 213 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Pentair by 97.6% during 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 during the period. Finally, Baystate Wealth Management LLC bought a new stake in shares of Pentair during the 3rd quarter valued at about $30,000. Hedge funds and other 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.