Pentair plc (NYSE:PNR) Stock Has Consensus Price Target of $76.59

Shares of Pentair plc (NYSE:PNR) have been assigned a consensus rating of “Hold” from the seventeen analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $76.59.

Several analysts have issued reports on PNR shares. Robert W. Baird set a $78.00 price objective on shares of Pentair in a research note on Wednesday, October 28th. Seaport Research Partners cut shares of Pentair from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 15th. Wolfe Research upgraded shares of Pentair from a “peer perform” rating to an “outperform” rating and set a $91.00 target price on the stock in a report on Tuesday, September 15th. TD Cowen upgraded Pentair from a “sell” rating to a “hold” rating and cut their price target for the company from $65.00 to $55.00 in a report on Wednesday, October 14th. Finally, William Blair set a $50.00 target price on Pentair in a research report on Wednesday, October 14th.

Pentair Trading Down 2.4%

Shares of Pentair stock opened at $68.11 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 0.77. Pentair has a 1 year low of $51.13 and a 1 year high of $109.89. The business has a 50 day moving average price of $57.45 and a 200 day moving average price of $75.57. The company has a market capitalization of $10.87 billion, a P/E ratio of 18.07, a P/E/G ratio of 1.66 and a beta of 1.01.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. The company had revenue of $976.40 million during the quarter, compared to analysts’ expectations of $963.71 million. Pentair had a net margin of 15.44% and a return on equity of 20.10%. The business’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.24 EPS. Sell-side analysts anticipate that Pentair will post 4.70 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 6th. Shareholders of record on Friday, October 23rd were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, October 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.6%. Pentair’s dividend payout ratio is presently 28.65%.

Institutional Trading of Pentair

Hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its stake in Pentair by 1,459.8% during 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 purchasing an additional 1,189,122 shares during the period. Vest Financial LLC purchased a new stake in Pentair in the 3rd quarter valued at about $41,204,000. Robeco Schweiz AG bought a new position in shares of Pentair during the 3rd quarter valued at about $27,859,000. Amundi increased its stake in Pentair by 13.1% during the 1st quarter. Amundi now owns 4,237,659 shares of the industrial products company’s stock valued at $369,208,000 after purchasing an additional 491,758 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Pentair by 52.9% in the 1st quarter. First Trust Advisors LP now owns 1,215,064 shares of the industrial products company’s stock worth $105,844,000 after buying an additional 420,140 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.

About Pentair

Pentair plc (NYSE: PNR) is a water treatment and management company that designs and manufactures products and systems for residential, commercial, industrial, and recreational applications. Its offerings include water filtration, softening, and purification systems; pumps, valves, controls, and related equipment; and solutions that help customers manage water quality, flow, and conservation.

The company also serves the swimming pool and spa market through equipment such as pumps, filters, heaters, lighting, automation systems, and water-treatment products.