Pentair (NYSE:PNR) Given Outperform Rating at Royal Bank of Canada

Pentair (NYSE:PNR)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a note issued to investors on Thursday,Benzinga reports. They currently have a $115.00 target price on the industrial products company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 8.69% from the stock’s previous close.

PNR has been the subject of several other reports. Oppenheimer increased their price objective on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays boosted their price target on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. KeyCorp increased their target price on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group lifted their price target on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, TD Cowen boosted their target price on Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.13.

Pentair Stock Performance

Shares of PNR traded up $1.64 during mid-day trading on Thursday, hitting $105.81. 255,989 shares of the company’s stock were exchanged, compared to its average volume of 1,539,626. The firm has a market cap of $17.48 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 1.87 and a beta of 1.19. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $98.77 and its 200-day simple moving average is $87.85. Pentair has a 52 week low of $62.33 and a 52 week high of $107.78.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 EPS. On average, equities research analysts expect that Pentair will post 4.28 EPS for the current year.

Insider Activity at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Pentair

Several hedge funds have recently made changes to their positions in PNR. State Street Corp grew its holdings in shares of Pentair by 3.1% during the third quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after buying an additional 259,922 shares during the last quarter. FMR LLC raised its stake in shares of Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after purchasing an additional 258,134 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Pentair by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock worth $389,800,000 after purchasing an additional 19,853 shares during the period. Millennium Management LLC grew its position in Pentair by 0.7% in the 2nd quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock valued at $225,779,000 after buying an additional 20,946 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Pentair by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock valued at $209,132,000 after buying an additional 53,787 shares during the period. Hedge funds and other 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.