Pentair (NYSE:PNR) Price Target Raised to $90.00

Pentair (NYSE:PNR) had its price target raised by Oppenheimer from $88.00 to $90.00 in a research note published on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

A number of other analysts also recently issued reports on PNR. KeyCorp raised their target price on Pentair from $82.00 to $92.00 and gave the stock an overweight rating in a research note on Thursday, March 7th. Barclays raised their price objective on Pentair from $90.00 to $92.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. Stifel Nicolaus raised their price objective on Pentair from $88.00 to $94.00 and gave the stock a buy rating in a research report on Thursday, March 7th. The Goldman Sachs Group reissued a neutral rating and set a $91.00 price objective on shares of Pentair in a research report on Friday, March 22nd. Finally, Northcoast Research raised Pentair from a neutral rating to a buy rating and set a $100.00 price objective for the company in a research report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $89.93.

Pentair Trading Up 0.7 %

Shares of PNR stock opened at $78.99 on Wednesday. The stock’s fifty day moving average is $80.19 and its two-hundred day moving average is $71.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.94 and a current ratio of 1.90. The firm has a market capitalization of $13.11 billion, a P/E ratio of 21.01, a PEG ratio of 1.49 and a beta of 1.20. Pentair has a fifty-two week low of $52.28 and a fifty-two week high of $85.81.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 EPS. Research analysts expect that Pentair will post 4.2 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s payout ratio is presently 24.47%.

Hedge Funds Weigh In On Pentair

Several hedge funds and other institutional investors have recently made changes to their positions in PNR. Assetmark Inc. boosted its stake in shares of Pentair by 935.1% in the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after buying an additional 346 shares during the period. Lindbrook Capital LLC lifted its stake in Pentair by 82.4% during the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 154 shares during the last quarter. IFP Advisors Inc lifted its stake in Pentair by 97.6% during the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 202 shares during the last quarter. Quent Capital LLC lifted its stake in Pentair by 112.7% during the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 213 shares during the last quarter. Finally, Baystate Wealth Management LLC purchased a new stake in Pentair during the third quarter worth approximately $30,000. 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.