Pentair (NYSE:PNR) Sets New 52-Week High Following Analyst Upgrade

Pentair plc (NYSE:PNR)’s share price reached a new 52-week high during trading on Wednesday after Oppenheimer raised their price target on the stock from $110.00 to $115.00. Oppenheimer currently has an outperform rating on the stock. Pentair traded as high as $107.56 and last traded at $107.54, with a volume of 419711 shares. The stock had previously closed at $104.08.

A number of other research firms have also commented on PNR. Northcoast Research lowered Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. The Goldman Sachs Group boosted their price target on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. UBS Group boosted their price target on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus boosted their price target on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $105.13.

Insider Transactions at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at $1,916,853.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in shares of Pentair during the 2nd quarter valued at $25,000. Crewe Advisors LLC raised its position in shares of 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 acquiring an additional 267 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Pentair during the 2nd quarter valued at $48,000. Blue Trust Inc. increased its position in shares of Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after buying an additional 327 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Pentair in the 1st quarter valued at $56,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Stock Performance

The stock’s 50-day moving average is $96.87 and its 200 day moving average is $86.94. The firm has a market cap of $17.57 billion, a P/E ratio of 26.58, a PEG ratio of 1.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. On average, research analysts predict that Pentair plc will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.87%. Pentair’s dividend payout ratio is 23.00%.

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.