Pentair (NYSE:PNR) Reaches New 1-Year High at $79.50

Pentair plc (NYSE:PNRGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $79.50 and last traded at $79.46, with a volume of 237542 shares. The stock had previously closed at $77.45.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Bank of America upgraded Pentair from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $46.00 to $76.00 in a report on Thursday, January 11th. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays increased their price objective on Pentair from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. Stifel Nicolaus increased their price objective on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, KeyCorp increased their price objective on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pentair has a consensus rating of “Moderate Buy” and an average price target of $83.67.

Check Out Our Latest Report on Pentair

Pentair Trading Up 3.0 %

The firm has a fifty day simple moving average of $73.54 and a two-hundred day simple moving average of $68.21. The firm has a market capitalization of $13.48 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.65 and a quick ratio of 0.94.

Pentair (NYSE:PNRGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.01. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The business had revenue of $984.60 million during the quarter, compared to analyst estimates of $975.36 million. During the same period in the prior year, the company earned $0.82 earnings per share. Pentair’s revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Pentair plc will post 4.21 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, May 3rd. Stockholders of record on Friday, April 19th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Thursday, April 18th. Pentair’s payout ratio is currently 24.53%.

Insider Transactions at Pentair

In other news, Director David A. /Wi Jones sold 2,260 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $67.85, for a total value of $153,341.00. Following the completion of the transaction, the director now directly owns 23,081 shares of the company’s stock, valued at $1,566,045.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Pentair

Large investors have recently added to or reduced their stakes in the business. Prudential PLC bought a new stake in Pentair during the third quarter valued at $566,000. Vontobel Holding Ltd. raised its position in Pentair by 74.1% during the third quarter. Vontobel Holding Ltd. now owns 488,376 shares of the industrial products company’s stock valued at $31,622,000 after purchasing an additional 207,940 shares in the last quarter. Field & Main Bank purchased a new stake in Pentair during the third quarter valued at about $68,000. Rafferty Asset Management LLC raised its position in Pentair by 57.7% during the third quarter. Rafferty Asset Management LLC now owns 18,820 shares of the industrial products company’s stock valued at $1,219,000 after purchasing an additional 6,884 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Pentair by 62.7% during the third quarter. EverSource Wealth Advisors LLC now owns 703 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 271 shares in the last quarter. Institutional investors own 88.60% of the company’s stock.

Pentair Company Profile

(Get Free Report)

Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.

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