Pentair (NYSE:PNR) Sets New 1-Year High at $96.60

Pentair plc (NYSE:PNR)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $96.60 and last traded at $96.60, with a volume of 305 shares traded. The stock had previously closed at $95.95.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PNR. Stifel Nicolaus lifted their price target on shares of Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price target on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. KeyCorp upped their price objective on Pentair from $92.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Barclays upped their target price on shares of Pentair from $90.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Northcoast Research downgraded Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.87.

Pentair Price Performance

The stock has a 50 day moving average of $86.33 and a 200-day moving average of $82.49. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65. The company has a market cap of $15.98 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 1.68 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.08. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 earnings per share. Equities analysts predict that Pentair plc will post 4.25 earnings per share for the current year.

Hedge Funds Weigh In On Pentair

Several institutional investors and hedge funds have recently modified their holdings of PNR. Anchor Investment Management LLC raised its position in Pentair by 74.8% during the second quarter. Anchor Investment Management LLC now owns 1,809 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 774 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Pentair by 82.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 77,500 shares of the industrial products company’s stock valued at $5,942,000 after buying an additional 34,932 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pentair in the 2nd quarter worth about $67,000. Sanctuary Advisors LLC purchased a new stake in Pentair during the 2nd quarter worth approximately $473,000. Finally, Cetera Investment Advisers raised its holdings in shares of Pentair by 8.3% during the second quarter. Cetera Investment Advisers now owns 54,855 shares of the industrial products company’s stock valued at $4,206,000 after acquiring an additional 4,202 shares during the last quarter. Hedge funds and other 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.