Pentair (NYSE:PNR) Price Target Raised to $91.00

Pentair (NYSE:PNR) had its price target raised by UBS Group from $83.00 to $91.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the company. Barclays upped their target price on Pentair from $90.00 to $92.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Bank of America upgraded Pentair from an underperform rating to a neutral rating and upped their target price for the stock from $46.00 to $76.00 in a report on Thursday, January 11th. Northcoast Research upgraded Pentair from a neutral rating to a buy rating and set a $100.00 target price on the stock in a report on Monday, April 15th. Oppenheimer upped their target price on Pentair from $88.00 to $90.00 and gave the stock an outperform rating in a report on Wednesday. Finally, StockNews.com downgraded Pentair from a buy rating to a hold rating in a report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $89.93.

Pentair Stock Up 1.0 %

Shares of NYSE:PNR opened at $79.96 on Wednesday. Pentair has a 1 year low of $53.88 and a 1 year high of $85.81. The company has a market cap of $13.27 billion, a PE ratio of 21.27, a P/E/G ratio of 1.38 and a beta of 1.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 0.94. The stock’s 50-day moving average is $80.45 and its 200 day moving average is $72.00.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the business earned $0.91 EPS. Pentair’s revenue was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Pentair will post 4.24 EPS for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be given a $0.23 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.92 annualized dividend and a yield of 1.15%. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Hedge Funds Weigh In On Pentair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB raised its stake in Pentair by 191.8% during the 4th quarter. Nordea Investment Management AB now owns 70,424 shares of the industrial products company’s stock valued at $5,122,000 after buying an additional 46,290 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Pentair by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock worth $1,287,364,000 after purchasing an additional 204,416 shares in the last quarter. Vest Financial LLC increased its stake in shares of Pentair by 31.7% in the 4th quarter. Vest Financial LLC now owns 450,602 shares of the industrial products company’s stock worth $32,763,000 after purchasing an additional 108,560 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Pentair by 8.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 348,573 shares of the industrial products company’s stock worth $25,299,000 after purchasing an additional 27,122 shares in the last quarter. Finally, Prudential PLC purchased a new stake in shares of Pentair in the 3rd quarter worth $566,000. 92.37% of the stock is owned by institutional investors.

About Pentair

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.