Pentair (NYSE:PNR) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Pentair (NYSE:PNR) in a research report report published on Thursday,Benzinga reports. Royal Bank of Canada currently has a $115.00 target price on the industrial products company’s stock.

A number of other equities analysts have also recently issued reports on PNR. Stifel Nicolaus boosted their price objective on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. KeyCorp lifted their price target on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised 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. Mizuho increased their target price on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Pentair presently has an average rating of “Moderate Buy” and an average target price of $105.13.

Pentair Stock Performance

Pentair stock opened at $106.93 on Thursday. The company has a market cap of $17.67 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 1.89 and a beta of 1.19. Pentair has a twelve month low of $62.63 and a twelve month high of $107.78. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $99.38 and its 200-day moving average price is $88.22.

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

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, October 18th. Pentair’s payout ratio is 23.00%.

Insider Buying and Selling at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were 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. This trade represents a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Pentair

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Pentair by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after buying an additional 121 shares during the last quarter. Wedmont Private Capital increased its position in shares of Pentair by 3.9% during the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock worth $270,000 after purchasing an additional 128 shares during the last quarter. Fifth Third Bancorp raised its holdings in Pentair by 3.8% in the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after buying an additional 129 shares during the period. Inspire Advisors LLC boosted its stake in Pentair by 1.6% during the third quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock worth $794,000 after buying an additional 130 shares during the period. Finally, Quarry LP lifted its holdings in shares of Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 134 shares during the last quarter. Institutional investors and hedge funds 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.