Pentair (NYSE:PNR) Sees Strong Trading Volume – Here’s Why

Pentair plc (NYSE:PNR) shares saw unusually-strong trading volume on Thursday . 3,018,395 shares traded hands during trading, an increase of 55% from the previous session’s volume of 1,945,187 shares.The stock last traded at $77.1710 and had previously closed at $74.81.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Royal Bank Of Canada decreased their target price on Pentair from $107.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Stifel Nicolaus decreased their price objective on shares of Pentair from $110.00 to $103.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Robert W. Baird set a $110.00 price objective on shares of Pentair in a research report on Wednesday, April 29th. Oppenheimer cut their target price on shares of Pentair from $122.00 to $115.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Finally, Wall Street Zen downgraded shares of Pentair from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $107.86.

Pentair Trading Up 2.1%

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 business’s 50-day moving average is $77.70 and its 200 day moving average is $91.27. The firm has a market capitalization of $12.34 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05.

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

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 dividend on an annualized basis and a yield of 1.4%. Pentair’s dividend payout ratio is currently 26.47%.

Institutional Trading of Pentair

Institutional investors have recently modified their holdings of the stock. Wexford Capital LP bought a new position in shares of Pentair in the third quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in Pentair by 71.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 252 shares of the industrial products company’s stock worth $26,000 after buying an additional 105 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in Pentair during the fourth quarter worth about $27,000. Aster Capital Management DIFC Ltd bought a new position in Pentair in the 4th quarter valued at about $43,000. Finally, Intesa Sanpaolo Wealth Management acquired a new position in shares of Pentair in the 4th quarter valued at approximately $44,000. 92.37% of the stock is currently owned by institutional investors.

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.