Pentair (NYSE:PNR) Price Target Raised to $126.00 at Citigroup

Pentair (NYSE:PNR) had its price target boosted by investment analysts at Citigroup from $113.00 to $126.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price would suggest a potential upside of 16.95% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Barclays raised their price objective on shares of Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday. UBS Group increased their price objective on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wolfe Research initiated coverage on shares of Pentair in a research report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price target on the stock. Finally, TD Cowen boosted their price objective on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pentair presently has a consensus rating of “Moderate Buy” and an average price target of $108.69.

Pentair Stock Performance

Pentair stock traded down $0.37 during midday trading on Monday, reaching $107.74. 548,060 shares of the company’s stock were exchanged, compared to its average volume of 1,522,886. The stock’s 50-day simple moving average is $102.04 and its 200 day simple moving average is $89.96. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of 26.94, a P/E/G ratio of 1.93 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. Pentair has a 52 week low of $66.77 and a 52 week high of $110.71.

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

Insider Transactions at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the transaction, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On Pentair

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp grew its holdings in Pentair by 3.1% during the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock worth $856,257,000 after acquiring an additional 259,922 shares during the last quarter. FMR LLC grew its stake in shares of Pentair by 4.7% in 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 grew its position in shares of Pentair by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,999,519 shares of the industrial products company’s stock valued at $389,800,000 after buying an additional 19,853 shares during the last quarter. Millennium Management LLC increased its position in Pentair by 0.7% during 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 purchasing an additional 20,946 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Pentair by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after buying an additional 53,787 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

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.