Pentair (NYSE:PNR) Given New $119.00 Price Target at Citigroup

Pentair (NYSE:PNR) had its target price trimmed by Citigroup from $126.00 to $119.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other equities research analysts also recently issued reports on the stock. TD Cowen upped their price target on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wolfe Research began coverage on shares of Pentair in a research report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 target price on the stock. Oppenheimer increased their price target on shares of Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Barclays boosted their price objective on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised their price objective on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.13.

Pentair Stock Up 1.8 %

Shares of PNR stock opened at $98.72 on Monday. The company’s fifty day simple moving average is $104.38 and its two-hundred day simple moving average is $94.09. Pentair has a 52 week low of $69.42 and a 52 week high of $110.71. The stock has a market cap of $16.31 billion, a P/E ratio of 24.68, a PEG ratio of 1.91 and a beta of 1.21. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

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

Pentair Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be issued a $0.25 dividend. The ex-dividend date is Friday, January 24th. This is a boost from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. Pentair’s dividend payout ratio is presently 25.00%.

Insider Transactions at Pentair

In other Pentair 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 directly owns 19,232 shares in the company, valued at $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Pentair

A number of large investors have recently modified their holdings of PNR. Acadian Asset Management LLC bought a new stake in Pentair during the 2nd quarter valued at $447,000. American Century Companies Inc. increased its stake in shares of Pentair by 16.0% during the second quarter. American Century Companies Inc. now owns 15,720 shares of the industrial products company’s stock valued at $1,205,000 after buying an additional 2,164 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Pentair by 5.7% in the second quarter. Envestnet Asset Management Inc. now owns 279,206 shares of the industrial products company’s stock valued at $21,407,000 after acquiring an additional 14,937 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in Pentair by 1,217.6% in the second quarter. Brown Brothers Harriman & Co. now owns 975 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 901 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings 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 worth $159,655,000 after acquiring an additional 996,325 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

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.