Pentair (NYSE:PNR) Price Target Lowered to $119.00 at Citigroup

Pentair (NYSE:PNR) had its price target cut by Citigroup from $126.00 to $119.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other research analysts have also issued reports on PNR. Wolfe Research began coverage on shares of Pentair in a research report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 target price on the stock. Barclays increased their price target on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. KeyCorp reiterated a “sector weight” rating and set a $115.00 target price on shares of Pentair in a research report on Monday, January 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Pentair in a research report on Thursday, November 21st. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Pentair presently has an average rating of “Moderate Buy” and a consensus target price of $111.13.

Pentair Stock Performance

NYSE:PNR opened at $101.65 on Monday. The stock has a 50 day simple moving average of $104.30 and a 200 day simple moving average of $94.46. The stock has a market cap of $16.80 billion, a P/E ratio of 25.41, a PEG ratio of 1.91 and a beta of 1.21. Pentair has a 1-year low of $69.42 and a 1-year high of $110.71. 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 (NYSE:PNR) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $988.53 million. During the same quarter last year, the firm earned $0.94 earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. Research analysts anticipate that Pentair will post 4.28 earnings per share for the current year.

Pentair Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, January 24th. This is a positive change from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 0.98%. Pentair’s payout ratio is 25.00%.

Insider Buying and Selling

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the business’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 sale, the executive vice president now owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PNR. Merit Financial Group LLC grew its position in Pentair by 179.0% during the 4th quarter. Merit Financial Group LLC now owns 7,393 shares of the industrial products company’s stock worth $744,000 after acquiring an additional 4,743 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Pentair during the fourth quarter valued at about $211,000. Burney Co. grew its holdings in shares of Pentair by 6.9% during the fourth quarter. Burney Co. now owns 3,999 shares of the industrial products company’s stock worth $402,000 after purchasing an additional 258 shares during the last quarter. Clarus Wealth Advisors bought a new stake in shares of Pentair during the fourth quarter worth about $200,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Pentair by 72.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,754 shares of the industrial products company’s stock valued at $982,000 after buying an additional 4,085 shares during the period. 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.