Pentair (NYSE:PNR) Stock Gets Price Target Trim from Mizuho

Pentair (NYSE:PNR) had its price objective cut by Mizuho from $85.00 to $65.00 in a report issued on Thursday, Marketbeat.com reports. They currently have an outperform rating on the industrial products company’s stock.

Several other brokerages have also recently weighed in on PNR. BNP Paribas Exane reissued an “underperform” rating and set a $64.00 price target (down from $75.00) on shares of Pentair in a research report on Thursday, July 16th. Seaport Research Partners lowered shares of Pentair from a “buy” rating to a “neutral” rating in a report on Wednesday, July 15th. Wolfe Research upgraded shares of Pentair from a “peer perform” rating to an “outperform” rating and set a $91.00 price objective on the stock in a research report on Tuesday, September 15th. Royal Bank Of Canada lowered their price objective on shares of Pentair from $73.00 to $61.00 and set a “sector perform” rating for the company in a research note on Wednesday. Finally, Zacks Research raised shares of Pentair from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pentair presently has an average rating of “Hold” and a consensus price target of $79.59.

Pentair Stock Up 0.1%

PNR opened at $53.49 on Thursday. The company has a market cap of $8.54 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.36 and a beta of 1.04. The business’s 50-day moving average price is $58.09 and its 200-day moving average price is $69.89. The company has a current ratio of 1.45, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43. Pentair has a 12 month low of $51.13 and a 12 month high of $111.94.

Pentair (NYSE:PNR) last issued its earnings results on Wednesday, July 29th. The industrial products company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.02. The company had revenue of $932.60 million during the quarter, compared to analysts’ expectations of $943.24 million. Pentair had a return on equity of 20.62% and a net margin of 16.24%. Pentair’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 EPS. On average, equities analysts expect that Pentair will post 4.64 EPS for the current year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, October 23rd. Pentair’s payout ratio is presently 27.14%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PNR. Corient Private Wealth LP purchased a new stake in Pentair during the 2nd quarter valued at about $244,000. Alan B Lancz & Associates Inc. bought a new stake in Pentair during the 2nd quarter valued at about $43,000. Wedmont Private Capital bought a new stake in Pentair during the 2nd quarter valued at about $56,000. HB Wealth Management LLC purchased a new position in Pentair in the second quarter worth about $91,000. Finally, Saudi Central Bank purchased a new position in Pentair in the second quarter worth about $141,000. 92.37% of the stock is currently owned by institutional investors.

Pentair Company Profile

Pentair plc (NYSE:PNR) is a water treatment and fluid management company that develops products and solutions for residential, commercial, industrial, and municipal customers. Its offerings are designed to help move, treat, filter, control, and conserve water across a range of applications.

The company’s products include pool pumps, filters, heaters, cleaners, lighting, automation systems, and related equipment, as well as water softeners, filtration systems, pumps, valves, controls, and other water-treatment technologies.