KeyCorp Raises Pentair (NYSE:PNR) Price Target to $115.00

Pentair (NYSE:PNR) had its price objective raised by investment analysts at KeyCorp from $110.00 to $115.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price target points to a potential upside of 16.97% from the company’s current price.

PNR has been the topic of a number of other research reports. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Oppenheimer lifted their target price on shares of Pentair from $98.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday. Stifel Nicolaus lifted their target price on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Northcoast Research lowered shares of Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $97.27.

Pentair Price Performance

PNR stock opened at $98.32 on Wednesday. The firm’s 50-day moving average price is $91.94 and its two-hundred day moving average price is $84.63. Pentair has a 12-month low of $57.18 and a 12-month high of $99.96. The stock has a market capitalization of $16.27 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 1.78 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 (NYSE:PNR) last released its quarterly earnings data 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 net margin of 16.05% and a return on equity of 20.39%. The firm had revenue of $993.40 million for the quarter, compared to analysts’ expectations of $988.53 million. During the same quarter in the previous year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts predict that Pentair will post 4.26 earnings per share for the current year.

Institutional Trading of Pentair

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC increased its stake in shares of Pentair by 0.7% in the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock worth $225,779,000 after purchasing an additional 20,946 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Pentair by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after acquiring an additional 53,787 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after acquiring an additional 996,325 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Pentair by 6.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock worth $125,704,000 after acquiring an additional 105,724 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Pentair by 352.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after acquiring an additional 1,228,635 shares during the last quarter. 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.