Barclays Cuts Pentair (NYSE:PNR) Price Target to $110.00

Pentair (NYSE:PNR) had its price objective reduced by Barclays from $120.00 to $110.00 in a report released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

A number of other analysts have also weighed in on the company. KeyCorp restated a “sector weight” rating and set a $115.00 target price on shares of Pentair in a report on Monday, January 6th. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Robert W. Baird upgraded shares of Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price target on the stock in a report on Tuesday. Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus reduced their price target on Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.27.

Pentair Stock Performance

Pentair stock opened at $86.76 on Wednesday. The company’s 50-day moving average is $94.54 and its 200 day moving average is $98.69. The firm has a market capitalization of $14.30 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. Pentair has a 1-year low of $72.63 and a 1-year high of $110.71.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. Pentair had a net margin of 15.32% and a return on equity of 20.94%. The business had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. During the same period last year, the company posted $0.87 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts forecast that Pentair will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. Pentair’s payout ratio is currently 26.74%.

Institutional Trading of Pentair

Institutional investors have recently made changes to their positions in the company. Parvin Asset Management LLC acquired a new stake in Pentair during the 4th quarter worth $25,000. Quarry LP boosted its position in Pentair by 105.5% during the third 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. SJS Investment Consulting Inc. boosted its position in Pentair by 753.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 294 shares during the last quarter. Colonial Trust Co SC raised its holdings in Pentair by 230.8% in the 4th quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 240 shares during the last quarter. Finally, Eastern Bank lifted its stake in Pentair by 144.9% in the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 300 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

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.