Pentair (NYSE:PNR) Reaches New 1-Year High – Still a Buy?

Shares of Pentair plc (NYSE:PNR) reached a new 52-week high on Monday . The company traded as high as $108.67 and last traded at $108.54, with a volume of 36851 shares trading hands. The stock had previously closed at $106.93.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wolfe Research initiated coverage on shares of Pentair in a research note on Tuesday. They issued an “outperform” rating and a $125.00 target price on the stock. TD Cowen boosted 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. Barclays upped their target price on Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Oppenheimer boosted their price objective on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.38.

Pentair Price Performance

The stock has a market cap of $18.25 billion, a PE ratio of 27.29, a PEG ratio of 1.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The stock’s 50-day moving average is $99.68 and its two-hundred day moving average is $88.39.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $993.40 million during 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%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted $0.94 earnings per share. On average, equities analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, October 18th. Pentair’s payout ratio is currently 23.00%.

Insiders Place Their Bets

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Pentair

Institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its holdings in Pentair by 352.5% in the 1st 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 in the last quarter. Swedbank AB purchased a new stake in shares of Pentair during the 1st quarter valued at about $97,083,000. Massachusetts Financial Services Co. MA grew its position in Pentair by 91.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after acquiring an additional 996,325 shares in the last quarter. Interval Partners LP boosted its stake in shares of Pentair by 289.6% in the second quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock valued at $73,305,000 after purchasing an additional 710,703 shares during the period. Finally, National Bank of Canada FI lifted its holdings in Pentair by 862.2% in the 3rd quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock worth $43,212,000 after buying an additional 395,962 shares in the last quarter. 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.