Oppenheimer Boosts Pentair (NYSE:PNR) Price Target to $120.00

Pentair (NYSE:PNR) had its price objective boosted by Oppenheimer from $118.00 to $120.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank Of Canada raised their price target on shares of Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 23rd. Robert W. Baird raised their target price on shares of Pentair from $107.00 to $121.00 and gave the stock an “outperform” rating in a research report on Wednesday. Mizuho lifted their target price on shares of Pentair from $118.00 to $122.00 and gave the stock an “outperform” rating in a research note on Wednesday. UBS Group reduced their price target on Pentair from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Wall Street Zen raised Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.46.

Pentair Price Performance

PNR stock opened at $103.20 on Wednesday. The stock’s 50 day moving average price is $101.60 and its 200 day moving average price is $95.48. The firm has a market cap of $16.92 billion, a P/E ratio of 28.20, a PEG ratio of 1.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.22 and a current ratio of 1.45. Pentair has a 1 year low of $74.25 and a 1 year high of $110.71.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Pentair had a return on equity of 21.62% and a net margin of 14.86%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 earnings per share. On average, sell-side analysts expect that Pentair will post 4.77 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, August 1st. Stockholders of record on Friday, July 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Friday, July 18th. Pentair’s payout ratio is currently 27.32%.

Insider Buying and Selling

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of Pentair stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $89.94, for a total transaction of $589,826.52. Following the transaction, the director directly owned 26,313 shares of the company’s stock, valued at $2,366,591.22. The trade was a 19.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Pentair

Several large investors have recently made changes to their positions in PNR. Proficio Capital Partners LLC purchased a new stake in Pentair during the 4th quarter worth $55,000. Commonwealth Equity Services LLC raised its position in Pentair by 0.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 32,225 shares of the industrial products company’s stock valued at $3,243,000 after purchasing an additional 191 shares during the period. Mizuho Securities USA LLC lifted its stake in shares of Pentair by 45.9% during the fourth quarter. Mizuho Securities USA LLC now owns 15,660 shares of the industrial products company’s stock worth $1,576,000 after purchasing an additional 4,928 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Pentair in the fourth quarter worth about $6,075,000. Finally, LPL Financial LLC grew its stake in shares of Pentair by 60.7% in the fourth quarter. LPL Financial LLC now owns 103,563 shares of the industrial products company’s stock valued at $10,423,000 after buying an additional 39,134 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

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.