Pentair (NYSE:PNR) Coverage Initiated at Wolfe Research

Wolfe Research initiated coverage on shares of Pentair (NYSE:PNR) in a report published on Tuesday, Marketbeat Ratings reports. The firm issued an outperform rating and a $125.00 price objective on the industrial products company’s stock.

A number of other analysts also recently issued reports on the stock. TD Cowen raised their price objective on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays raised their price target on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of Pentair in a research note on Thursday, November 21st. JPMorgan Chase & Co. raised their target price on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus upped their price target on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.38.

Pentair Price Performance

Pentair stock opened at $108.99 on Tuesday. Pentair has a 52 week low of $63.38 and a 52 week high of $110.71. The company’s 50 day moving average price is $100.57 and its two-hundred day moving average price is $88.85. The stock has a market cap of $18.01 billion, a P/E ratio of 27.35, a P/E/G ratio of 1.94 and a beta of 1.19. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

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

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.84%. The ex-dividend date was Friday, October 18th. Pentair’s payout ratio is 23.00%.

Insider Activity

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Pentair

A number of institutional investors have recently made changes to their positions in PNR. Opal Wealth Advisors LLC bought a new position in Pentair in the second quarter valued at $25,000. Crewe Advisors LLC raised its holdings in shares of Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after buying an additional 267 shares in the last quarter. Quarry LP raised its holdings in shares of Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after buying an additional 134 shares in the last quarter. Family Firm Inc. bought a new stake in Pentair in the 2nd quarter worth approximately $48,000. Finally, Blue Trust Inc. boosted its stake in Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after buying an additional 327 shares in the last quarter. 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.