Barclays Boosts Pentair (NYSE:PNR) Price Target to $95.00

Pentair (NYSE:PNR) had its target price hoisted by Barclays from $92.00 to $95.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other brokerages have also recently issued reports on PNR. Mizuho lifted their target price on shares of Pentair from $82.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, March 7th. StockNews.com cut shares of Pentair from a buy rating to a hold rating in a research report on Friday, February 2nd. Bank of America upgraded shares of Pentair from an underperform rating to a neutral rating and lifted their target price for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. UBS Group lifted their target price on shares of Pentair from $83.00 to $91.00 and gave the stock a buy rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted their target price on shares of Pentair from $101.00 to $103.00 and gave the stock an outperform rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $89.93.

Pentair Stock Up 1.0 %

PNR stock opened at $79.96 on Wednesday. The company has a market cap of $13.27 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.38 and a beta of 1.20. Pentair has a 52 week low of $53.88 and a 52 week high of $85.81. The company’s 50-day moving average price is $80.45 and its 200 day moving average price is $72.00. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. On average, research analysts expect that Pentair will post 4.24 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio is presently 24.47%.

Hedge Funds Weigh In On Pentair

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Direct Indexing L.P. increased its position in Pentair by 4.1% during the first quarter. First Trust Direct Indexing L.P. now owns 3,558 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 140 shares during the last quarter. Czech National Bank increased its position in Pentair by 0.5% during the first quarter. Czech National Bank now owns 29,094 shares of the industrial products company’s stock worth $2,486,000 after purchasing an additional 143 shares during the last quarter. Lindbrook Capital LLC increased its position in Pentair by 82.4% during the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 154 shares during the last quarter. Oak Family Advisors LLC increased its position in Pentair by 1.6% during the first quarter. Oak Family Advisors LLC now owns 11,013 shares of the industrial products company’s stock worth $941,000 after purchasing an additional 169 shares during the last quarter. Finally, M&T Bank Corp increased its position in Pentair by 0.5% during the fourth quarter. M&T Bank Corp now owns 32,590 shares of the industrial products company’s stock worth $2,369,000 after purchasing an additional 172 shares during the last quarter. Institutional investors and hedge funds 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.