Pentair (NYSE:PNR) Sets New 1-Year High Following Analyst Upgrade

Pentair plc (NYSE:PNR) shares hit a new 52-week high during trading on Wednesday after Oppenheimer raised their price target on the stock from $110.00 to $115.00. Oppenheimer currently has an outperform rating on the stock. Pentair traded as high as $107.56 and last traded at $107.54, with a volume of 419711 shares changing hands. The stock had previously closed at $104.08.

Several other brokerages also recently weighed in on PNR. Deutsche Bank Aktiengesellschaft increased their price target on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Stifel Nicolaus increased their price target on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group increased their price target on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their price target on Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen raised their target price on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $105.13.

Insider Activity at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Pentair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNR. DekaBank Deutsche Girozentrale raised its position in Pentair by 352.5% in 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 purchasing an additional 1,228,635 shares during the period. Swedbank AB purchased a new stake in shares of Pentair during the first quarter worth $97,083,000. Massachusetts Financial Services Co. MA increased its position in shares of Pentair by 91.7% during the second 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 period. Interval Partners LP increased its position in shares of Pentair by 289.6% during the second quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after acquiring an additional 710,703 shares during the period. Finally, FMR LLC increased its position in shares of Pentair by 4.7% during the third quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock worth $557,860,000 after acquiring an additional 258,134 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Up 3.4 %

The business has a 50-day moving average price of $96.47 and a two-hundred day moving average price of $86.80. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The firm has a market cap of $17.78 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 1.86 and a beta of 1.19.

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

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.85%. Pentair’s dividend payout ratio (DPR) is 23.00%.

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.