Barclays Raises Pentair (NYSE:PNR) Price Target to $105.00

Pentair (NYSE:PNR) had its price target hoisted by Barclays from $96.00 to $105.00 in a research report released on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group increased their price objective on shares of Pentair from $85.00 to $93.00 and gave the stock a neutral rating in a research note on Wednesday, July 24th. Oppenheimer increased their price target on Pentair from $92.00 to $98.00 and gave the stock an outperform rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their price objective on Pentair from $99.00 to $101.00 and gave the company an outperform rating in a report on Wednesday, July 24th. Northcoast Research cut Pentair from a buy rating to a neutral rating in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Pentair from $90.00 to $98.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Pentair currently has a consensus rating of Moderate Buy and an average target price of $93.47.

Pentair Price Performance

PNR opened at $95.88 on Wednesday. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 1.75 and a beta of 1.20. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. Pentair has a 12-month low of $57.18 and a 12-month high of $98.23. The business’s fifty day simple moving average is $88.72 and its 200-day simple moving average is $83.43.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm earned $1.03 earnings per share. Pentair’s revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Pentair will post 4.26 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.96%. Pentair’s payout ratio is 24.47%.

Hedge Funds Weigh In On Pentair

A number of institutional investors have recently bought and sold shares of PNR. Allspring Global Investments Holdings LLC grew its stake in shares of Pentair by 1.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock valued at $610,000 after buying an additional 121 shares during the period. Wedmont Private Capital lifted its stake in shares of Pentair by 3.9% in the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after purchasing an additional 128 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Pentair by 3.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 129 shares during the period. Retirement Systems of Alabama lifted its position in Pentair by 0.4% in the second quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock valued at $2,808,000 after buying an additional 139 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in Pentair by 4.1% during the first quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock worth $304,000 after buying an additional 140 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

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.