Pentair (NYSE:PNR) Reaches New 1-Year High Following Analyst Upgrade

Pentair plc (NYSE:PNR) hit a new 52-week high during trading on Tuesday after Oppenheimer raised their price target on the stock from $98.00 to $110.00. Oppenheimer currently has an outperform rating on the stock. Pentair traded as high as $99.96 and last traded at $98.93, with a volume of 1047039 shares traded. The stock had previously closed at $98.36.

Several other brokerages have also commented on PNR. Stifel Nicolaus upped their price objective on shares of Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. KeyCorp upped their price objective on shares of Pentair from $97.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Barclays upped their price objective on shares of Pentair from $96.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Pentair presently has an average rating of “Moderate Buy” and a consensus price target of $96.73.

Institutional Trading of Pentair

Institutional investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Pentair during the 2nd quarter valued at about $25,000. Crewe Advisors LLC grew its position in Pentair by 376.1% during the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 267 shares during the last quarter. Blue Trust Inc. grew its position in Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 327 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of Pentair during the 2nd quarter valued at about $48,000. Finally, LRI Investments LLC purchased a new stake in shares of Pentair during the 1st quarter valued at about $56,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Stock Performance

The business’s fifty day moving average price is $91.94 and its 200-day moving average price is $84.63. 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 stock has a market cap of $16.27 billion, a PE ratio of 24.89, a P/E/G ratio of 1.78 and a beta of 1.20.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 EPS. As a group, equities research analysts forecast that Pentair plc will post 4.26 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently declared 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 presently 23.29%.

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.