Pentair (NYSE:PNR) Reaches New 12-Month High on Analyst Upgrade

Pentair plc (NYSE:PNR)’s share price hit a new 52-week high on Monday after KeyCorp raised their price target on the stock from $97.00 to $110.00. KeyCorp currently has an overweight rating on the stock. Pentair traded as high as $98.58 and last traded at $98.35, with a volume of 105986 shares. The stock had previously closed at $97.63.

A number of other analysts have also recently weighed in on the stock. Oppenheimer upped their price target on shares of Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Northcoast Research lowered shares of Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. The Goldman Sachs Group boosted their price objective on shares of Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.33.

Institutional Investors Weigh In On Pentair

Several institutional investors and hedge funds have recently bought and sold shares of PNR. V Square Quantitative Management LLC raised its stake in Pentair by 18.5% during the fourth quarter. V Square Quantitative Management LLC now owns 4,894 shares of the industrial products company’s stock worth $356,000 after acquiring an additional 763 shares during the period. American International Group Inc. raised its stake in Pentair by 2.4% during the fourth quarter. American International Group Inc. now owns 44,720 shares of the industrial products company’s stock worth $3,252,000 after acquiring an additional 1,039 shares during the period. Goldman Sachs Group Inc. raised its stake in Pentair by 138.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company’s stock worth $60,655,000 after acquiring an additional 484,810 shares during the period. Richardson Financial Services Inc. acquired a new stake in Pentair during the fourth quarter worth about $75,000. Finally, Wellington Management Group LLP raised its stake in Pentair by 28.0% during the fourth quarter. Wellington Management Group LLP now owns 221,599 shares of the industrial products company’s stock worth $16,112,000 after acquiring an additional 48,527 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Trading Up 1.2 %

The stock has a market cap of $16.41 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20. The firm’s 50 day moving average is $90.07 and its two-hundred day moving average is $84.00. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. Pentair’s quarterly revenue was up 1.6% on a year-over-year basis. Equities analysts anticipate that Pentair plc will post 4.26 EPS for the current year.

Pentair Announces Dividend

The business 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 $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Pentair Company Profile

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.