Oppenheimer Forecasts Strong Price Appreciation for Pentair (NYSE:PNR) Stock

Pentair (NYSE:PNR) had its price objective lifted by Oppenheimer from $110.00 to $115.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other equities research analysts also recently weighed in on the stock. UBS Group boosted their price objective on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. KeyCorp upped their price objective on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Northcoast Research cut Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Stifel Nicolaus increased their price objective on shares of Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.13.

Pentair Stock Up 0.1 %

PNR stock opened at $105.92 on Wednesday. The company has a market capitalization of $17.50 billion, a P/E ratio of 26.48, a PEG ratio of 1.89 and a beta of 1.19. The firm has a 50 day simple moving average of $97.70 and a 200-day simple moving average of $87.31. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. Pentair has a twelve month low of $62.04 and a twelve month high of $107.78.

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

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Friday, October 18th. Pentair’s payout ratio is currently 23.00%.

Insider Buying and Selling at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pentair

A number of institutional investors and hedge funds have recently modified their holdings 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 purchasing an additional 121 shares in the last quarter. Wedmont Private Capital lifted its position in shares of Pentair by 3.9% in the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after acquiring an additional 128 shares in the last quarter. Fifth Third Bancorp boosted its stake in Pentair by 3.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 129 shares during the period. Inspire Advisors LLC grew its position in Pentair by 1.6% during the 3rd quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock worth $794,000 after purchasing an additional 130 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 134 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

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.