Pentair (NYSE:PNR) Hits New 52-Week Low – What’s Next?

Pentair plc (NYSE:PNR) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $77.02 and last traded at $77.1730, with a volume of 2346228 shares. The stock had previously closed at $79.10.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PNR shares. Stifel Nicolaus cut their target price on Pentair from $110.00 to $103.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Seaport Research Partners cut their target price on Pentair from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings cut Pentair from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 8th. Citigroup cut their target price on Pentair from $112.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $125.00 target price (down from $135.00) on shares of Pentair in a research note on Tuesday, March 31st. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $107.86.

Pentair Stock Performance

The company has a 50-day simple moving average of $89.63 and a two-hundred day simple moving average of $99.38. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.19 and a current ratio of 1.88. The firm has a market capitalization of $12.94 billion, a P/E ratio of 19.62, a PEG ratio of 1.32 and a beta of 1.10.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.05. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 EPS. As a group, equities analysts forecast that Pentair plc will post 5.35 EPS for the current year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, July 24th. Pentair’s payout ratio is presently 26.47%.

Insider Activity at Pentair

In other Pentair news, Director Michael T. Speetzen sold 7,000 shares of Pentair stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $99.99, for a total transaction of $699,930.00. Following the sale, the director directly owned 8,290 shares of the company’s stock, valued at approximately $828,917.10. The trade was a 45.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Philip M. Rolchigo sold 6,493 shares of Pentair stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $103.22, for a total value of $670,207.46. Following the sale, the executive vice president directly owned 29,096 shares in the company, valued at approximately $3,003,289.12. The trade was a 18.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.26% of the company’s stock.

Institutional Trading of Pentair

Several large investors have recently bought and sold shares of PNR. Nordea Investment Management AB boosted its position in shares of Pentair by 173.6% in the 3rd quarter. Nordea Investment Management AB now owns 2,837,753 shares of the industrial products company’s stock worth $311,046,000 after purchasing an additional 1,800,669 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Pentair by 106.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,236,826 shares of the industrial products company’s stock worth $358,521,000 after purchasing an additional 1,670,944 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Pentair by 1,459.8% in the 1st quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company’s stock worth $110,617,000 after purchasing an additional 1,189,122 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Pentair by 1,690.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 729,663 shares of the industrial products company’s stock worth $75,987,000 after purchasing an additional 688,921 shares in the last quarter. Finally, 140 Summer Partners LP bought a new stake in shares of Pentair in the 3rd quarter worth approximately $60,752,000. 92.37% of the stock is owned by institutional investors.

About Pentair

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.