Pentair (NYSE:PNR) Price Target Cut to $99.00 by Analysts at Royal Bank of Canada

Pentair (NYSE:PNR) had its price objective lowered by Royal Bank of Canada from $103.00 to $99.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

Several other equities analysts have also commented on PNR. TD Cowen raised their price target on Pentair from $80.00 to $85.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Citigroup raised their price objective on Pentair from $85.00 to $101.00 and gave the company a buy rating in a research report on Monday, April 8th. Stifel Nicolaus raised their price objective on Pentair from $88.00 to $94.00 and gave the company a buy rating in a research report on Thursday, March 7th. BNP Paribas started coverage on Pentair in a report on Tuesday, March 12th. They issued a neutral rating and a $86.00 price target for the company. Finally, KeyCorp raised their price target on Pentair from $82.00 to $92.00 and gave the stock an overweight rating in a report on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Pentair has an average rating of Moderate Buy and a consensus price target of $90.71.

Pentair Stock Performance

PNR stock opened at $76.67 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $80.24 and its two-hundred day simple moving average is $77.52. Pentair has a twelve month low of $57.18 and a twelve month high of $85.84. The firm has a market cap of $12.73 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.29 and a beta of 1.22.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. Analysts predict that Pentair will post 4.24 earnings per share for the current year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, July 19th. Pentair’s dividend payout ratio (DPR) is 24.47%.

Insider Activity at Pentair

In related news, CEO Jerome O. Pedretti sold 24,747 shares of Pentair stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the transaction, the chief executive officer now directly owns 38,538 shares in the company, valued at $3,254,534.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. First Trust Direct Indexing L.P. raised its position in Pentair by 4.1% during the first quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock valued at $304,000 after acquiring an additional 140 shares in the last quarter. Czech National Bank increased its position in shares of Pentair by 0.5% in the first quarter. Czech National Bank now owns 29,094 shares of the industrial products company’s stock valued at $2,486,000 after buying an additional 143 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Pentair by 82.4% in the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after buying an additional 154 shares in the last quarter. Oak Family Advisors LLC increased its position in shares of Pentair by 1.6% in the first quarter. Oak Family Advisors LLC now owns 11,013 shares of the industrial products company’s stock valued at $941,000 after buying an additional 169 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Pentair by 19.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,046 shares of the industrial products company’s stock valued at $83,000 after buying an additional 170 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

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.