KeyCorp Reaffirms “Sector Weight” Rating for Pentair (NYSE:PNR)

KeyCorp reiterated their sector weight rating on shares of Pentair (NYSE:PNR) in a research note published on Monday morning, MarketBeat.com reports. They currently have a $115.00 price objective on the industrial products company’s stock. KeyCorp also issued estimates for Pentair’s Q4 2024 earnings at $1.01 EPS.

PNR has been the subject of several other reports. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Wolfe Research initiated coverage on Pentair in a research report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective for the company. TD Cowen raised their target price on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup boosted their price target on Pentair from $113.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Mizuho raised their price target on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.38.

Pentair Trading Up 0.7 %

Shares of PNR stock opened at $99.41 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. Pentair has a fifty-two week low of $68.69 and a fifty-two week high of $110.71. The firm’s 50 day moving average price is $104.41 and its two-hundred day moving average price is $93.66. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 1.91 and a beta of 1.21.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same quarter last year, the company earned $0.94 earnings per share. Pentair’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts anticipate that Pentair will post 4.28 EPS for the current year.

Pentair Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. This is a boost from Pentair’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, January 24th. Pentair’s payout ratio is presently 25.00%.

Insider Buying and Selling

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Pentair

Several hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in Pentair by 3.1% during the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock valued at $856,257,000 after purchasing an additional 259,922 shares during the last quarter. FMR LLC grew its stake in shares of Pentair by 4.7% in the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after buying an additional 258,134 shares in the last quarter. Geode Capital Management LLC increased its holdings in Pentair by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after buying an additional 19,853 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Pentair by 0.7% in the 2nd quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock valued at $225,779,000 after purchasing an additional 20,946 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Pentair by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock valued at $209,132,000 after purchasing an additional 53,787 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

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.