Analysts Set Pentair plc (NYSE:PNR) Target Price at $92.87

Pentair plc (NYSE:PNR) has been given an average rating of “Moderate Buy” by the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $92.87.

A number of brokerages have recently weighed in on PNR. Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their target price on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group boosted their price target on shares of Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Stifel Nicolaus increased their price target on shares of Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th.

Pentair Trading Up 1.1 %

NYSE PNR opened at $97.53 on Friday. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $16.14 billion, a P/E ratio of 25.94, a PEG ratio of 1.73 and a beta of 1.20. The business has a fifty day simple moving average of $87.25 and a 200 day simple moving average of $82.80. Pentair has a 12 month low of $57.18 and a 12 month high of $98.23.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the firm earned $1.03 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. On average, analysts predict that Pentair will post 4.25 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.23 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.94%. Pentair’s dividend payout ratio (DPR) is currently 24.47%.

Institutional Trading of Pentair

A number of hedge funds and other institutional investors have recently bought and sold shares of PNR. Allspring Global Investments Holdings LLC increased its stake in Pentair by 1.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after acquiring an additional 121 shares during the last quarter. Wedmont Private Capital increased its position in shares of Pentair by 3.9% in the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock worth $270,000 after purchasing an additional 128 shares during the last quarter. Fifth Third Bancorp raised its stake in Pentair by 3.8% in the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 129 shares in the last quarter. Retirement Systems of Alabama grew its stake in Pentair by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after buying an additional 139 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in Pentair by 4.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock worth $304,000 after buying an additional 140 shares in the last quarter. Institutional investors own 92.37% of the company’s stock.

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.