Pentair (NYSE:PNR) Reaches New 1-Year Low – Here’s Why

Pentair plc (NYSE:PNR)’s share price reached a new 52-week low on Thursday . The stock traded as low as $70.61 and last traded at $71.3060, with a volume of 263508 shares changing hands. The stock had previously closed at $72.45.

Analysts Set New Price Targets

PNR has been the subject of several research analyst reports. Bank of America reduced their price objective on Pentair from $100.00 to $88.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. Seaport Research Partners reduced their price objective on Pentair from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. TD Cowen reduced their price objective on Pentair from $90.00 to $75.00 and set a “sell” rating for the company in a research report on Wednesday, April 29th. Barclays reduced their price objective on Pentair from $95.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. Finally, Oppenheimer reduced their price objective on Pentair from $122.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Pentair has an average rating of “Hold” and a consensus target price of $107.86.

Pentair Stock Down 2.0%

The firm has a 50-day moving average of $83.53 and a 200 day moving average of $95.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.19. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 1.25 and a beta of 1.10.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.17 by $0.05. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the firm posted $1.11 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Pentair plc will post 5.35 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be paid a $0.27 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.08 annualized dividend and a yield of 1.5%. Pentair’s dividend payout ratio is currently 26.47%.

Institutional Trading of Pentair

Institutional investors and hedge funds have recently bought and sold shares of the business. Avanza Fonder AB increased its stake in Pentair by 142.1% during the 4th quarter. Avanza Fonder AB now owns 38,940 shares of the industrial products company’s stock worth $4,055,000 after acquiring an additional 22,858 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Pentair by 13.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,638,855 shares of the industrial products company’s stock worth $274,810,000 after acquiring an additional 305,166 shares during the period. Nordea Investment Management AB increased its stake in Pentair by 22.8% during the 4th quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock worth $366,787,000 after acquiring an additional 647,162 shares during the period. IMC Chicago LLC bought a new position in Pentair during the 3rd quarter worth $1,635,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Pentair by 624.2% in the 4th quarter. SG Americas Securities LLC now owns 362,648 shares of the industrial products company’s stock valued at $37,766,000 after purchasing an additional 312,574 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Pentair Company Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.