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

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

PNR has been the topic of a number of other research reports. StockNews.com lowered Pentair from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Barclays cut their price objective on Pentair from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Robert W. Baird upgraded Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 target price for the company in a report on Tuesday, March 25th. Northcoast Research upgraded shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Baird R W raised shares of Pentair from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 25th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Pentair Stock Performance

NYSE PNR opened at $80.77 on Monday. The stock has a fifty day simple moving average of $88.55 and a 200-day simple moving average of $97.45. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market cap of $13.32 billion, a PE ratio of 21.60, a P/E/G ratio of 1.87 and a beta of 1.13. Pentair has a twelve month low of $72.63 and a twelve month high of $110.71.

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

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair’s dividend payout ratio (DPR) is presently 26.74%.

Institutional Trading of Pentair

A number of institutional investors have recently bought and sold shares of PNR. Parvin Asset Management LLC purchased a new stake in Pentair during the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Pentair during the 1st quarter worth approximately $28,000. NBC Securities Inc. acquired a new position in Pentair in the first quarter valued at $33,000. SJS Investment Consulting Inc. lifted its holdings in shares of Pentair by 753.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 294 shares during the last quarter. Finally, Colonial Trust Co SC boosted its position in shares of Pentair by 230.8% in the 4th quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 240 shares during the period. 92.37% of the stock is owned by hedge funds and other 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.