Pentair PLC. (PNR) Given “Underperform” Rating at Cowen and Company
Cowen and Company reissued their underperform rating on shares of Pentair PLC. (NYSE:PNR) in a research report released on Monday. They currently have a $61.00 price target on the industrial products company’s stock, up from their previous price target of $59.00.
Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Pentair PLC. from a hold rating to a buy rating and set a $75.00 target price for the company in a research note on Wednesday, July 12th. Morgan Stanley restated an equal weight rating and issued a $74.00 price target (up previously from $70.00) on shares of Pentair PLC. in a research note on Monday. Stifel Nicolaus restated a hold rating and issued a $68.00 price target on shares of Pentair PLC. in a research note on Friday, July 14th. Bank of America Corporation reaffirmed a sell rating and set a $65.00 price target on shares of Pentair PLC. in a report on Wednesday, July 26th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $59.00 price target on shares of Pentair PLC. in a report on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $67.83.
Shares of Pentair PLC. (NYSE PNR) opened at 69.61 on Monday. Pentair PLC. has a one year low of $53.80 and a one year high of $69.64. The stock has a market cap of $12.63 billion, a price-to-earnings ratio of 20.49 and a beta of 1.41. The firm has a 50-day moving average price of $63.69 and a 200-day moving average price of $64.35.
Pentair PLC. (NYSE:PNR) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, hitting the consensus estimate of $1.00. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the firm earned $1.11 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. Analysts anticipate that Pentair PLC. will post $3.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Friday, October 20th will be given a $0.345 dividend. This represents a $1.38 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, October 19th. Pentair PLC.’s dividend payout ratio (DPR) is presently 40.71%.
In other news, Director Ronald Merriman sold 5,200 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $67.00, for a total transaction of $348,400.00. Following the completion of the transaction, the director now owns 21,538 shares in the company, valued at approximately $1,443,046. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.90% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank lifted its stake in Pentair PLC. by 126.8% during the second quarter. Huntington National Bank now owns 1,508 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 843 shares during the last quarter. Korea Investment CORP boosted its holdings in Pentair PLC. by 142.7% during the second quarter. Korea Investment CORP now owns 1,602 shares of the industrial products company’s stock worth $107,000 after buying an additional 942 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its holdings in Pentair PLC. by 6.5% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,829 shares of the industrial products company’s stock worth $123,000 after buying an additional 111 shares in the last quarter. FNY Partners Fund LP bought a new stake in Pentair PLC. during the first quarter worth approximately $125,000. Finally, Krilogy Financial LLC grew its position in Pentair PLC. by 121.2% in the second quarter. Krilogy Financial LLC now owns 2,281 shares of the industrial products company’s stock worth $152,000 after buying an additional 1,250 shares during the last quarter. Institutional investors and hedge funds own 85.59% of the company’s stock.
Pentair PLC. Company Profile
Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.
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