Pentair (NYSE:PNR) Price Target Lowered to $98.00 at Citigroup

Pentair (NYSE:PNR) had its price target reduced by Citigroup from $118.00 to $98.00 in a report released on Monday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

Several other analysts also recently weighed in on the company. Baird R W upgraded Pentair from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 25th. Robert W. Baird upgraded shares of Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price target for the company in a report on Tuesday, March 25th. KeyCorp reiterated a “sector weight” rating and set a $115.00 price objective on shares of Pentair in a research note on Monday, January 6th. Barclays cut their price objective on shares of Pentair from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Finally, Stifel Nicolaus lowered their target price on Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a report on Friday, January 24th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.87.

Pentair Price Performance

Shares of PNR stock opened at $82.74 on Monday. The company has a market capitalization of $13.65 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.87 and a beta of 1.13. The company’s 50-day simple moving average is $89.22 and its two-hundred day simple moving average is $97.67. Pentair has a one year low of $72.63 and a one year high of $110.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.06. The company had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. Pentair’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 earnings per share. As a group, equities analysts anticipate that Pentair will post 4.77 EPS for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio (DPR) is presently 26.74%.

Institutional Investors Weigh In On Pentair

Several institutional investors have recently added to or reduced their stakes in the business. Portside Wealth Group LLC raised its position in shares of Pentair by 8.2% in the 1st quarter. Portside Wealth Group LLC now owns 3,542 shares of the industrial products company’s stock valued at $310,000 after purchasing an additional 269 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Pentair by 2.4% during the first quarter. First Citizens Bank & Trust Co. now owns 31,170 shares of the industrial products company’s stock worth $2,727,000 after buying an additional 734 shares during the period. Wedmont Private Capital grew its holdings in shares of Pentair by 5.9% during the first quarter. Wedmont Private Capital now owns 3,759 shares of the industrial products company’s stock valued at $309,000 after buying an additional 209 shares during the last quarter. Piscataqua Savings Bank increased its position in shares of Pentair by 1.9% in the 1st quarter. Piscataqua Savings Bank now owns 14,666 shares of the industrial products company’s stock valued at $1,283,000 after acquiring an additional 274 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Pentair by 20.7% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,777 shares of the industrial products company’s stock worth $1,030,000 after acquiring an additional 2,023 shares during the last quarter. Institutional investors and hedge funds 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.