Pentair (NYSE:PNR) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Pentair (NYSE:PNR) in a research note released on Tuesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $125.00 price objective on the industrial products company’s stock.

A number of other research analysts have also commented on PNR. Mizuho raised their price target on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays raised their target price on shares of Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. TD Cowen upped their price target on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. KeyCorp increased their price objective on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.38.

Pentair Stock Up 1.1 %

Pentair stock opened at $109.15 on Tuesday. 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 has a one year low of $62.81 and a one year high of $109.31. The company has a 50-day simple moving average of $99.68 and a 200-day simple moving average of $88.39. The firm has a market capitalization of $18.03 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.91 and a beta of 1.19.

Pentair (NYSE:PNR) last posted 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. The firm had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. Pentair’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 EPS. As a group, equities analysts expect that Pentair will post 4.28 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, October 18th. Pentair’s payout ratio is 23.00%.

Insider Activity

In other news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pentair

Several hedge funds have recently made changes to their positions in PNR. Opal Wealth Advisors LLC purchased a new position in Pentair during the 2nd quarter worth approximately $25,000. Crewe Advisors LLC boosted its position in shares of Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after buying an additional 267 shares during the period. Quarry LP grew its holdings in shares of Pentair by 105.5% during the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after buying an additional 134 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Pentair during the second quarter valued at $48,000. Finally, Blue Trust Inc. lifted its stake in Pentair by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 327 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.