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

Pentair (NYSE:PNR) had its target price trimmed by Citigroup from $85.00 to $69.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also recently weighed in on the company. Oppenheimer lowered their price target on Pentair from $115.00 to $94.00 and set an “outperform” rating on the stock in a report on Thursday, July 16th. Zacks Research upgraded Pentair from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 7th. Royal Bank Of Canada lowered Pentair from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $101.00 to $74.00 in a report on Wednesday, July 15th. Robert W. Baird reduced their price objective on Pentair from $83.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group reduced their price objective on Pentair from $73.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Pentair currently has a consensus rating of “Hold” and an average target price of $80.76.

Pentair Price Performance

Shares of NYSE:PNR opened at $52.09 on Monday. Pentair has a fifty-two week low of $51.13 and a fifty-two week high of $112.13. The business has a 50-day simple moving average of $58.73 and a two-hundred day simple moving average of $70.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.76 and a current ratio of 1.45. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.35 and a beta of 1.04.

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

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 23rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.08 annualized dividend and a dividend yield of 2.1%. Pentair’s dividend payout ratio (DPR) is 27.14%.

Institutional Investors Weigh In On Pentair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNR. Corient Private Wealth LP bought a new stake in shares of Pentair during the 2nd quarter valued at $244,000. Alan B Lancz & Associates Inc. purchased a new position in shares of Pentair during the 2nd quarter valued at $43,000. Wedmont Private Capital purchased a new position in shares of Pentair during the 2nd quarter valued at $56,000. HB Wealth Management LLC bought a new position in Pentair in the 2nd quarter worth $91,000. Finally, Saudi Central Bank bought a new position in Pentair in the 2nd quarter worth $141,000. Institutional investors own 92.37% of the company’s stock.

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.