Pentair (NYSE:PNR) Price Target Raised to $95.00 at Barclays

Pentair (NYSE:PNR) had its target price increased by Barclays from $92.00 to $95.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on PNR. Mizuho boosted their price target on shares of Pentair from $82.00 to $100.00 and gave the company a buy rating in a research report on Thursday, March 7th. Bank of America upgraded shares of Pentair from an underperform rating to a neutral rating and boosted their price target for the company from $46.00 to $76.00 in a research report on Thursday, January 11th. Northcoast Research upgraded shares of Pentair from a neutral rating to a buy rating and set a $100.00 price objective on the stock in a report on Monday, April 15th. KeyCorp upped their price objective on shares of Pentair from $82.00 to $92.00 and gave the stock an overweight rating in a report on Thursday, March 7th. Finally, BNP Paribas started coverage on shares of Pentair in a report on Tuesday, March 12th. They issued a neutral rating and a $86.00 price objective on the stock. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $89.93.

Pentair Price Performance

Shares of NYSE PNR opened at $78.99 on Wednesday. Pentair has a 1 year low of $52.28 and a 1 year high of $85.81. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 0.94. The company’s 50-day moving average is $80.19 and its 200 day moving average is $71.79. The stock has a market capitalization of $13.11 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.49 and a beta of 1.20.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. Pentair’s quarterly revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts expect that Pentair will post 4.2 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 annualized dividend and a yield of 1.16%. Pentair’s payout ratio is presently 24.47%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PNR. Assetmark Inc. raised its position in Pentair by 935.1% in the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 346 shares during the period. Lindbrook Capital LLC raised its position in Pentair by 82.4% in the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 154 shares during the period. IFP Advisors Inc raised its position in Pentair by 97.6% in the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 202 shares during the period. Quent Capital LLC increased its stake in shares of Pentair by 112.7% in the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 213 shares in the last quarter. Finally, Baystate Wealth Management LLC purchased a new stake in shares of Pentair in the third quarter worth $30,000. 92.37% of the stock is currently owned by institutional investors.

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.