Pentair (NYSE:PNR) Price Target Raised to $110.00 at TD Cowen

Pentair (NYSE:PNR) had its target price hoisted by TD Cowen from $95.00 to $110.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities research analysts also recently commented on PNR. Royal Bank of Canada upped their target price on Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Barclays upped their price objective on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday. KeyCorp raised their price objective on shares of Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, UBS Group boosted their target price on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $104.80.

Pentair Stock Performance

NYSE:PNR opened at $98.96 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $92.82 and a 200-day moving average of $84.94. Pentair has a twelve month low of $57.40 and a twelve month high of $101.00. The firm has a market cap of $16.43 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share. Analysts forecast that Pentair will post 4.27 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, October 18th. Pentair’s dividend payout ratio is currently 24.47%.

Institutional Trading of Pentair

Several hedge funds have recently added to or reduced their stakes in PNR. Pinnacle Associates Ltd. raised its stake in Pentair by 13.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 10,131 shares of the industrial products company’s stock valued at $991,000 after purchasing an additional 1,171 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of Pentair by 5.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,332 shares of the industrial products company’s stock valued at $424,000 after buying an additional 205 shares in the last quarter. abrdn plc lifted its holdings in shares of Pentair by 5.6% during the 3rd quarter. abrdn plc now owns 723,220 shares of the industrial products company’s stock worth $70,330,000 after acquiring an additional 38,329 shares during the period. Pallas Capital Advisors LLC bought a new stake in Pentair in the third quarter valued at about $618,000. Finally, Hunter Associates Investment Management LLC acquired a new position in Pentair in the third quarter worth about $231,000. Institutional investors own 92.37% of the company’s stock.

Pentair Company Profile

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.