Pentair (NYSE:PNR) Price Target Raised to $115.00 at KeyCorp

Pentair (NYSE:PNR) had its target price boosted by KeyCorp from $110.00 to $115.00 in a report issued on Wednesday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other research analysts have also weighed in on PNR. Oppenheimer upped their price objective on shares of Pentair from $98.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays raised their target price on shares of Pentair from $96.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group raised their price target on Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Stifel Nicolaus boosted their price objective on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Pentair has an average rating of “Moderate Buy” and a consensus target price of $104.80.

Pentair Stock Performance

PNR opened at $98.00 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. The firm has a market cap of $16.22 billion, a PE ratio of 24.81, a P/E/G ratio of 1.78 and a beta of 1.20. The business has a fifty day simple moving average of $92.24 and a 200-day simple moving average of $84.73. Pentair has a fifty-two week low of $57.18 and a fifty-two week high of $99.96.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. As a group, equities analysts predict that Pentair will post 4.26 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s payout ratio is 23.29%.

Institutional Trading of Pentair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC bought a new stake in shares of Pentair in the 2nd quarter valued at approximately $25,000. Crewe Advisors LLC grew its position in Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 267 shares during the period. Family Firm Inc. acquired a new position in Pentair during the second quarter worth $48,000. Blue Trust Inc. raised its stake in Pentair by 165.2% during the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 327 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of Pentair during the first quarter valued at $56,000. 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.