Pentair (NYSE:PNR) Given New $115.00 Price Target at Oppenheimer

Pentair (NYSE:PNR) had its price objective boosted by Oppenheimer from $110.00 to $115.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

A number of other equities research analysts also recently commented on the company. The Goldman Sachs Group lifted their target price on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Stifel Nicolaus increased their target price on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Mizuho boosted their price target on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, TD Cowen upped their target price on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.13.

Pentair Price Performance

Shares of Pentair stock traded down $0.63 during trading hours on Wednesday, reaching $105.69. The stock had a trading volume of 32,844 shares, compared to its average volume of 1,550,597. Pentair has a twelve month low of $62.04 and a twelve month high of $107.78. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $17.46 billion, a PE ratio of 26.58, a PEG ratio of 1.86 and a beta of 1.19. The stock’s 50 day moving average is $96.87 and its 200 day moving average is $86.94.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. During the same quarter last year, the firm posted $0.94 EPS. The business’s revenue was down 1.5% on a year-over-year basis. Equities analysts expect that Pentair will post 4.28 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Insider Buying and Selling at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the sale, the executive vice president now owns 19,232 shares in the company, valued at $1,916,853.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by insiders.

Institutional Trading of Pentair

A number of institutional investors have recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Pentair in the 2nd quarter worth approximately $25,000. Crewe Advisors LLC raised its position in shares of Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 267 shares during the period. Blue Trust Inc. lifted its holdings in shares of Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 327 shares during the last quarter. Family Firm Inc. bought a new position in Pentair during the 2nd quarter worth $48,000. Finally, LRI Investments LLC acquired a new stake in Pentair in the first quarter worth $56,000. Hedge funds and other 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.