Pentair (NYSE:PNR) Price Target Increased to $115.00 by Analysts at Royal Bank of Canada

Pentair (NYSE:PNR) had its price objective increased by Royal Bank of Canada from $101.00 to $115.00 in a research note published on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

A number of other analysts have also weighed in on PNR. KeyCorp raised their target price on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday. Mizuho boosted their price objective on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. The Goldman Sachs Group increased their target price on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday. Oppenheimer boosted their price target on Pentair from $98.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.80.

Pentair Trading Down 0.3 %

Shares of PNR stock opened at $98.00 on Wednesday. Pentair has a fifty-two week low of $57.18 and a fifty-two week high of $99.96. The stock’s fifty day moving average price is $92.24 and its two-hundred day moving average price is $84.73. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65. The company has a market cap of $16.22 billion, a PE ratio of 24.81, a P/E/G ratio of 1.78 and a beta of 1.20.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.39% and a net margin of 16.05%. Pentair’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. Equities analysts predict that Pentair will post 4.26 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors 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 0.94%. Pentair’s payout ratio is 23.29%.

Institutional Investors Weigh In On Pentair

A number of hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale grew its position in shares of Pentair by 352.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after buying an additional 1,228,635 shares during the period. Swedbank AB bought a new position in Pentair during the first quarter worth $97,083,000. Massachusetts Financial Services Co. MA grew its holdings in Pentair by 91.7% in 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 purchasing an additional 996,325 shares during the period. Interval Partners LP increased its stake in Pentair by 289.6% in the second quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock valued at $73,305,000 after purchasing an additional 710,703 shares in the last quarter. Finally, AMF Tjanstepension AB acquired a new position in shares of Pentair during the first quarter valued at about $45,096,000. 92.37% of the stock is currently owned by institutional investors.

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.