Barclays Boosts Pentair (NYSE:PNR) Price Target to $105.00

Pentair (NYSE:PNR) had its price objective upped by Barclays from $96.00 to $105.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other analysts have also recently issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Pentair from $85.00 to $93.00 and gave the stock a neutral rating in a research note on Wednesday, July 24th. Northcoast Research downgraded Pentair from a buy rating to a neutral rating in a research report on Friday, July 19th. Stifel Nicolaus boosted their target price on Pentair from $100.00 to $101.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Oppenheimer upped their target price on Pentair from $92.00 to $98.00 and gave the stock an outperform rating in a research note on Wednesday, July 24th. Finally, KeyCorp lifted their price target on Pentair from $92.00 to $97.00 and gave the company an overweight rating in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $93.47.

Pentair Price Performance

Pentair stock opened at $95.88 on Wednesday. The firm has a market capitalization of $15.92 billion, a P/E ratio of 25.50, a PEG ratio of 1.75 and a beta of 1.20. Pentair has a one year low of $57.18 and a one year high of $98.23. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96. The business has a fifty day moving average price of $88.72 and a 200-day moving average price of $83.44.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company earned $1.03 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Pentair will post 4.26 EPS for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.23 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.96%. Pentair’s dividend payout ratio (DPR) is 24.47%.

Hedge Funds Weigh In On Pentair

A number of large investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale boosted its position in Pentair by 352.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after buying an additional 1,228,635 shares during the period. Swedbank AB purchased a new stake in Pentair during the 1st quarter valued at about $97,083,000. Massachusetts Financial Services Co. MA grew its position in Pentair by 91.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after acquiring an additional 996,325 shares during the last quarter. Interval Partners LP increased its stake in Pentair by 289.6% in the 2nd quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after purchasing an additional 710,703 shares during the period. Finally, AMF Tjanstepension AB bought a new stake in Pentair in the first quarter valued at approximately $45,096,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

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.