Pentair (NYSE:PNR) Lifted to “Overweight” at Morgan Stanley
Morgan Stanley upgraded shares of Pentair (NYSE:PNR) from an equal weight rating to an overweight rating in a research report released on Monday, BenzingaRatingsTable reports. The brokerage currently has $32.00 price target on the industrial products company’s stock, down from their previous price target of $37.00.
A number of other analysts have also issued reports on the company. Citigroup began coverage on Pentair in a research note on Tuesday, December 17th. They issued a neutral rating and a $50.00 price target on the stock. Rosenblatt Securities reiterated a buy rating on shares of Pentair in a research report on Wednesday, January 29th. Stifel Nicolaus downgraded Pentair from a buy rating to a hold rating and set a $46.00 price objective on the stock. in a research report on Tuesday, December 17th. Royal Bank of Canada reiterated a hold rating and set a $48.00 price objective on shares of Pentair in a research report on Wednesday, December 18th. Finally, UBS Group began coverage on Pentair in a research report on Wednesday, December 11th. They set a hold rating and a $42.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $46.10.
Shares of Pentair stock opened at $29.01 on Monday. Pentair has a 52 week low of $22.01 and a 52 week high of $47.43. The company has a quick ratio of 0.91, a current ratio of 1.42 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average is $38.24 and its two-hundred day moving average is $41.28. The company has a market capitalization of $4.53 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.62 and a beta of 1.19.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 16th. This represents a $0.76 dividend on an annualized basis and a yield of 2.62%. Pentair’s dividend payout ratio is currently 31.93%.
A number of large investors have recently bought and sold shares of the business. Americana Partners LLC purchased a new stake in shares of Pentair in the 4th quarter valued at $26,000. Covington Capital Management raised its holdings in shares of Pentair by 25.0% in the 3rd quarter. Covington Capital Management now owns 1,250 shares of the industrial products company’s stock valued at $47,000 after buying an additional 250 shares during the period. Great Diamond Partners LLC purchased a new stake in shares of Pentair in the 4th quarter valued at $48,000. NEXT Financial Group Inc raised its holdings in shares of Pentair by 418.3% in the 4th quarter. NEXT Financial Group Inc now owns 1,218 shares of the industrial products company’s stock valued at $56,000 after buying an additional 983 shares during the period. Finally, Pendal Group Ltd purchased a new stake in shares of Pentair in the 4th quarter valued at $59,000. Institutional investors own 87.65% of the company’s stock.
Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment manufactures and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, pool repair, renovation, service and construction, and aquaculture solution applications.
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