Pentair (NYSE:PNR) Hits New 12-Month High at $94.64

Shares of Pentair plc (NYSE:PNR) hit a new 52-week high on Wednesday . The stock traded as high as $94.64 and last traded at $94.00, with a volume of 17584 shares trading hands. The stock had previously closed at $93.91.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. KeyCorp increased their price target on Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Barclays raised their target price on Pentair from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Stifel Nicolaus raised their target price on Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Northcoast Research cut Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Oppenheimer raised their target price on Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $92.87.

Pentair Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96. The stock has a fifty day moving average price of $85.01 and a two-hundred day moving average price of $82.05. The company has a market cap of $15.62 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 1.64 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the company earned $1.03 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, research analysts expect that Pentair plc will post 4.25 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in shares of Pentair by 0.7% in the second quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock valued at $225,779,000 after purchasing an additional 20,946 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Pentair by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock worth $209,132,000 after acquiring an additional 53,787 shares during the period. Kodai Capital Management LP bought a new stake in Pentair during the fourth quarter worth $173,280,000. Massachusetts Financial Services Co. MA lifted its holdings in Pentair by 91.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after acquiring an additional 996,325 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Pentair by 6.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock worth $125,704,000 after acquiring an additional 105,724 shares during the period. 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.