Pentair (NYSE:PNR) Stock Gets Price Target Trim from Royal Bank Of Canada

Pentair (NYSE:PNR) had its target price lowered by Royal Bank Of Canada from $73.00 to $61.00 in a research note issued to investors on Wednesday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the industrial products company’s stock.

Several other research firms also recently commented on PNR. Wolfe Research raised shares of Pentair from a “peer perform” rating to an “outperform” rating and set a $91.00 target price on the stock in a report on Tuesday, September 15th. Stifel Nicolaus reaffirmed a “hold” rating and set a $65.00 target price (down from $103.00) on shares of Pentair in a research note on Thursday, July 16th. Weiss Ratings cut shares of Pentair from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. BNP Paribas Exane reiterated an “underperform” rating and issued a $64.00 price target (down from $75.00) on shares of Pentair in a report on Thursday, July 16th. Finally, Oppenheimer reduced their price target on shares of Pentair from $115.00 to $94.00 and set an “outperform” rating on the stock in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $79.59.

Pentair Stock Up 0.1%

NYSE PNR opened at $53.49 on Wednesday. The stock’s 50 day moving average is $58.09 and its 200 day moving average is $69.89. The company has a current ratio of 1.45, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43. Pentair has a 12 month low of $51.13 and a 12 month high of $111.94. The stock has a market cap of $8.54 billion, a PE ratio of 13.44, a P/E/G ratio of 1.36 and a beta of 1.04.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.02. Pentair had a return on equity of 20.62% and a net margin of 16.24%. The business had revenue of $932.60 million during the quarter, compared to the consensus estimate of $943.24 million. During the same period in the prior year, the company posted $1.39 EPS. The firm’s revenue for the quarter was down 17.0% compared to the same quarter last year. Research analysts predict that Pentair will post 4.64 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, October 23rd. Pentair’s dividend payout ratio (DPR) is currently 27.14%.

Institutional Trading of Pentair

A number of large investors have recently added to or reduced their stakes in PNR. Hsbc Holdings PLC raised its holdings in shares of Pentair by 1,459.8% during the 1st quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company’s stock worth $110,617,000 after acquiring an additional 1,189,122 shares in the last quarter. Amundi boosted its position in shares of Pentair by 13.1% during the 1st quarter. Amundi now owns 4,237,659 shares of the industrial products company’s stock valued at $369,208,000 after acquiring an additional 491,758 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Pentair by 52.9% in the first quarter. First Trust Advisors LP now owns 1,215,064 shares of the industrial products company’s stock valued at $105,844,000 after purchasing an additional 420,140 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Pentair in the first quarter valued at $28,717,000. Finally, California Public Employees Retirement System grew its holdings in shares of Pentair by 57.2% in the first quarter. California Public Employees Retirement System now owns 503,272 shares of the industrial products company’s stock valued at $43,840,000 after purchasing an additional 183,089 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

Pentair Company Profile

Pentair plc (NYSE:PNR) is a water treatment and fluid management company that develops products and solutions for residential, commercial, industrial, and municipal customers. Its offerings are designed to help move, treat, filter, control, and conserve water across a range of applications.

The company’s products include pool pumps, filters, heaters, cleaners, lighting, automation systems, and related equipment, as well as water softeners, filtration systems, pumps, valves, controls, and other water-treatment technologies.