Barclays Raises Pentair (NYSE:PNR) Price Target to $108.00

Pentair (NYSE:PNR) had its price objective hoisted by Barclays from $105.00 to $108.00 in a report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

A number of other equities analysts also recently issued reports on the company. Northcoast Research downgraded Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Royal Bank of Canada increased their target price on Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their target price on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. KeyCorp increased their target price on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Stifel Nicolaus increased their target price on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.80.

Pentair Price Performance

PNR opened at $98.96 on Wednesday. The stock has a fifty day simple moving average of $92.82 and a two-hundred day simple moving average of $84.94. 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 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 has a 12-month low of $57.40 and a 12-month high of $101.00.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. Research analysts predict that Pentair will post 4.27 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. Shareholders of record on Friday, October 18th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. Pentair’s dividend payout ratio is currently 24.47%.

Institutional Investors Weigh In On Pentair

Large investors have recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Pentair during the 2nd quarter valued at about $25,000. Crewe Advisors LLC grew its stake in shares of Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 267 shares during the period. Family Firm Inc. bought a new stake in shares of Pentair during the 2nd quarter valued at about $48,000. Blue Trust Inc. grew its stake in shares of Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 327 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of Pentair during the 1st quarter valued at about $56,000. 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.