Royal Bank of Canada Trims Pentair (NYSE:PNR) Target Price to $99.00

Pentair (NYSE:PNR) had its target price cut by Royal Bank of Canada from $103.00 to $99.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

PNR has been the subject of a number of other reports. Northcoast Research raised Pentair from a neutral rating to a buy rating and set a $100.00 price target for the company in a report on Monday, April 15th. UBS Group lifted their target price on Pentair from $83.00 to $91.00 and gave the company a buy rating in a report on Wednesday, April 24th. Oppenheimer increased their price target on shares of Pentair from $88.00 to $90.00 and gave the stock an outperform rating in a report on Wednesday, April 24th. BNP Paribas assumed coverage on shares of Pentair in a research report on Tuesday, March 12th. They issued a neutral rating and a $86.00 price objective for the company. Finally, Barclays upped their target price on shares of Pentair from $92.00 to $95.00 and gave the stock an overweight rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Pentair has a consensus rating of Moderate Buy and an average price target of $89.67.

Pentair Trading Up 1.3 %

Shares of PNR opened at $76.05 on Tuesday. Pentair has a fifty-two week low of $57.18 and a fifty-two week high of $85.84. The business has a 50-day moving average of $80.27 and a 200 day moving average of $77.45. The firm has a market cap of $12.63 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. The firm had revenue of $1.02 billion during 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 company’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. As a group, research analysts forecast that Pentair will post 4.24 EPS for the current year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Friday, July 19th. Pentair’s payout ratio is currently 24.47%.

Insider Activity

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the sale, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Pentair

Several institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC lifted its stake in shares of Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 154 shares during the last quarter. Quent Capital LLC lifted its position in Pentair by 112.7% in the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. Operose Advisors LLC purchased a new stake in shares of Pentair during the third quarter valued at approximately $34,000. Rational Advisors LLC grew its holdings in shares of Pentair by 200.0% in the first quarter. Rational Advisors LLC now owns 633 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 422 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Pentair in the first quarter worth $56,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

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.