Pentair (NYSE:PNR) Price Target Raised to $96.00 at Barclays

Pentair (NYSE:PNR) had its price target lifted by Barclays from $90.00 to $96.00 in a research note published on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

PNR has been the subject of several other research reports. Royal Bank of Canada reduced their price target on shares of Pentair from $103.00 to $99.00 and set an outperform rating for the company in a research report on Tuesday, June 25th. KeyCorp raised their price objective on Pentair from $92.00 to $97.00 and gave the company an overweight rating in a research note on Wednesday. TD Cowen raised their price objective on Pentair from $80.00 to $85.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Stifel Nicolaus raised their price objective on Pentair from $100.00 to $101.00 and gave the company a buy rating in a research note on Wednesday. Finally, Oppenheimer raised their price objective on Pentair from $92.00 to $98.00 and gave the company an outperform rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $92.87.

Pentair Stock Performance

Shares of PNR stock opened at $88.50 on Wednesday. The company has a market cap of $14.65 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 1.60 and a beta of 1.21. Pentair has a 52 week low of $57.18 and a 52 week high of $88.96. The company has a quick ratio of 1.17, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $79.42 and a 200-day moving average of $78.76.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, topping 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 quarter last year, the firm posted $1.03 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities analysts forecast that Pentair will post 4.25 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s payout ratio is 24.47%.

Insider Transactions at Pentair

In related news, CEO Jerome O. Pedretti sold 24,747 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total value of $2,089,884.15. Following the sale, the chief executive officer now directly owns 38,538 shares in the company, valued at approximately $3,254,534.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Pentair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Impax Asset Management Group plc raised its stake in Pentair by 1.3% in the 4th quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock valued at $718,440,000 after acquiring an additional 131,745 shares during the period. Kodai Capital Management LP bought a new stake in Pentair in the 4th quarter valued at about $173,280,000. DekaBank Deutsche Girozentrale raised its stake in Pentair by 352.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after acquiring an additional 1,228,635 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Pentair by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,377,786 shares of the industrial products company’s stock valued at $100,179,000 after buying an additional 16,875 shares in the last quarter. Finally, KBC Group NV grew its holdings in Pentair by 49.2% during the 4th quarter. KBC Group NV now owns 1,191,049 shares of the industrial products company’s stock valued at $86,601,000 after buying an additional 392,785 shares in the last quarter. 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.