Pentair (NYSE:PNR) PT Raised to $93.00 at The Goldman Sachs Group

Pentair (NYSE:PNR) had its price objective hoisted by The Goldman Sachs Group from $85.00 to $93.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 7.98% from the stock’s previous close.

A number of other research firms have also weighed in on PNR. Barclays raised their price objective on Pentair from $90.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus raised their price objective on Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday. Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Finally, 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. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.87.

Pentair Stock Down 1.2 %

Shares of PNR traded down $1.06 on Wednesday, reaching $86.13. The stock had a trading volume of 1,265,457 shares, compared to its average volume of 1,622,139. The firm has a market capitalization of $14.30 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 1.40 and a beta of 1.21. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90. The company has a 50-day simple moving average of $79.30 and a 200-day simple moving average of $78.47. Pentair has a 12-month low of $57.18 and a 12-month high of $88.47.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business posted $1.03 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts predict that Pentair will post 4.2 EPS for the current year.

Insider Activity at Pentair

In related news, CEO Jerome O. Pedretti sold 24,747 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 38,538 shares in the company, valued at $3,254,534.10. The transaction 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 Trading of Pentair

Hedge funds have recently bought and sold shares of the stock. UBS Group AG boosted its stake in shares of Pentair by 5.2% in the fourth quarter. UBS Group AG now owns 479,261 shares of the industrial products company’s stock worth $34,847,000 after acquiring an additional 23,494 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Pentair in the fourth quarter worth about $2,908,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Pentair by 5.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock worth $15,820,000 after acquiring an additional 8,966 shares during the period. Point72 Europe London LLP bought a new position in shares of Pentair in the fourth quarter worth about $921,000. Finally, Kodai Capital Management LP bought a new position in shares of Pentair in the fourth quarter worth about $173,280,000. 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.