Pentair (NYSE:PNR) Reaches New 1-Year Low – Here’s Why

Shares of Pentair plc (NYSE:PNR) hit a new 52-week low on Thursday . The company traded as low as $70.61 and last traded at $71.3060, with a volume of 263508 shares changing hands. The stock had previously closed at $72.45.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PNR. TD Cowen reduced their target price on Pentair from $90.00 to $75.00 and set a “sell” rating on the stock in a report on Wednesday, April 29th. Wall Street Zen downgraded Pentair from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Barclays reduced their target price on Pentair from $95.00 to $92.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Seaport Research Partners reduced their target price on Pentair from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Finally, Royal Bank Of Canada reduced their target price on Pentair from $107.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $107.86.

Pentair Stock Performance

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 company has a market cap of $11.47 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.25 and a beta of 1.10. The company has a fifty day moving average of $83.53 and a two-hundred day moving average of $95.81.

Pentair (NYSE:PNR) last released 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. Pentair had a return on equity of 21.92% and a net margin of 15.98%.The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $1.11 EPS. Pentair’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Pentair plc will post 5.35 EPS for the current year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 annualized dividend and a dividend yield of 1.5%. Pentair’s dividend payout ratio (DPR) is 26.47%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. increased its position in Pentair by 106.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,236,826 shares of the industrial products company’s stock valued at $358,521,000 after buying an additional 1,670,944 shares in the last quarter. Hsbc Holdings PLC increased its position in 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 valued at $110,617,000 after buying an additional 1,189,122 shares in the last quarter. Assenagon Asset Management S.A. increased its position in 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 valued at $75,987,000 after buying an additional 688,921 shares in the last quarter. Nordea Investment Management AB increased its position in Pentair by 22.8% in the 4th quarter. Nordea Investment Management AB now owns 3,484,915 shares of the industrial products company’s stock valued at $366,787,000 after buying an additional 647,162 shares in the last quarter. Finally, 140 Summer Partners LP bought a new stake in Pentair in the 3rd quarter valued at about $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.