Citigroup Issues Positive Forecast for Pentair (NYSE:PNR) Stock Price

Pentair (NYSE:PNR) had its target price hoisted by Citigroup from $113.00 to $126.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other research firms also recently weighed in on PNR. Oppenheimer upped their price target on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays increased their target price on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Mizuho lifted their price target on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Pentair presently has a consensus rating of “Moderate Buy” and an average target price of $108.69.

Pentair Stock Up 0.1 %

Shares of PNR opened at $108.25 on Monday. The stock has a market capitalization of $17.89 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.93 and a beta of 1.20. Pentair has a 52 week low of $66.77 and a 52 week high of $110.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The stock has a fifty day moving average of $102.24 and a 200-day moving average of $90.14.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping 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 period in the previous year, the business earned $0.94 EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pentair will post 4.28 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.85%. Pentair’s dividend payout ratio is presently 23.00%.

Insider Buying and Selling

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction dated 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 owns 19,232 shares in the company, valued at $1,916,853.44. The trade was a 15.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pentair

A number of institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in Pentair by 91.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after acquiring an additional 996,325 shares during the period. Interval Partners LP boosted its holdings in Pentair by 289.6% in the 2nd quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after buying an additional 710,703 shares during the period. National Bank of Canada FI grew its position in shares of Pentair by 862.2% during the third quarter. National Bank of Canada FI now owns 441,887 shares of the industrial products company’s stock worth $43,212,000 after purchasing an additional 395,962 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Pentair during the 3rd quarter valued at approximately $26,748,000. Finally, State Street Corp increased its holdings in Pentair by 3.1% in the 3rd quarter. State Street Corp now owns 8,756,075 shares of the industrial products company’s stock valued at $856,257,000 after acquiring an additional 259,922 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.