Pentair (NYSE:PNR) Hits New 1-Year Low Following Analyst Downgrade

Pentair plc (NYSE:PNR) shares hit a new 52-week low during trading on Wednesday after Seaport Research Partners downgraded the stock from a buy rating to a neutral rating. The company traded as low as $58.71 and last traded at $58.9350, with a volume of 206749 shares. The stock had previously closed at $75.68.

Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada downgraded Pentair from an “outperform” rating to a “sector perform” rating and set a $74.00 target price for the company. in a research report on Wednesday. Bank of America cut their price objective on Pentair from $100.00 to $88.00 and set an “underperform” rating for the company in a report on Monday, April 20th. TD Cowen lowered their target price on shares of Pentair from $90.00 to $75.00 and set a “sell” rating on the stock in a report on Wednesday, April 29th. Stifel Nicolaus dropped their target price on shares of Pentair from $110.00 to $103.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Finally, Citigroup cut their price target on shares of Pentair from $112.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Pentair has a consensus rating of “Hold” and an average price target of $105.93.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Sivia Capital Partners LLC bought a new stake in shares of Pentair during the second quarter worth approximately $222,000. American Century Companies Inc. lifted its holdings in Pentair by 5.8% in the second quarter. American Century Companies Inc. now owns 9,350 shares of the industrial products company’s stock valued at $960,000 after buying an additional 513 shares during the period. Cerity Partners LLC boosted its stake in Pentair by 27.2% in the second quarter. Cerity Partners LLC now owns 53,959 shares of the industrial products company’s stock valued at $5,539,000 after acquiring an additional 11,523 shares during the last quarter. Sei Investments Co. grew its holdings in Pentair by 54.7% during the 2nd quarter. Sei Investments Co. now owns 76,469 shares of the industrial products company’s stock worth $7,850,000 after acquiring an additional 27,053 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in Pentair by 101.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 338,368 shares of the industrial products company’s stock worth $34,737,000 after acquiring an additional 170,707 shares during the period. Institutional investors own 92.37% of the company’s stock.

Pentair Stock Down 15.5%

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.19 and a current ratio of 1.88. The company has a market cap of $10.33 billion, a P/E ratio of 15.46, a PEG ratio of 1.30 and a beta of 1.03. The firm’s 50-day simple moving average is $74.43 and its 200 day simple moving average is $88.44.

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

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.7%. Pentair’s dividend payout ratio is 26.47%.

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.