Barclays Increases Pentair (NYSE:PNR) Price Target to $105.00

by · The Markets Daily

Pentair (NYSE:PNR – Free Report) had its price target upped by Barclays from $96.00 to $105.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

PNR has been the subject of several other research reports. Stifel Nicolaus lifted their price target on shares of Pentair from $100.00 to $101.00 and gave the company a buy rating in a research report on Wednesday, July 24th. KeyCorp boosted their target price on shares of Pentair from $92.00 to $97.00 and gave the stock an overweight rating in a research report on Wednesday, July 24th. The Goldman Sachs Group raised their price target on shares of Pentair from $85.00 to $93.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. Northcoast Research lowered Pentair from a buy rating to a neutral rating in a report on Friday, July 19th. Finally, Royal Bank of Canada raised their target price on Pentair from $99.00 to $101.00 and gave the company an outperform rating in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $93.47.

Check Out Our Latest Stock Report on Pentair

Pentair Trading Up 0.3 %

NYSE:PNR opened at $95.88 on Wednesday. Pentair has a 12 month low of $57.18 and a 12 month high of $98.23. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 1.75 and a beta of 1.20. The firm has a fifty day simple moving average of $88.72 and a two-hundred day simple moving average of $83.44.

Pentair (NYSE:PNR – Get Free Report) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the business posted $1.03 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts expect that Pentair will post 4.26 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s dividend payout ratio is 24.47%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Pentair by 1.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 121 shares during the period. Wedmont Private Capital raised its stake in shares of Pentair by 3.9% in the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after buying an additional 128 shares during the period. Fifth Third Bancorp lifted its position in shares of Pentair by 3.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after buying an additional 129 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Pentair by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after acquiring an additional 139 shares during the period. Finally, First Trust Direct Indexing L.P. increased its holdings in Pentair by 4.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock worth $304,000 after acquiring an additional 140 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

About Pentair

(Get Free Report)

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.

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