Royal Bank of Canada Increases Pentair (NYSE:PNR) Price Target to $103.00

Pentair (NYSE:PNR) had its target price upped by Royal Bank of Canada from $101.00 to $103.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other analysts also recently weighed in on PNR. Oppenheimer increased their price target on shares of Pentair from $88.00 to $90.00 and gave the company an outperform rating in a report on Wednesday. UBS Group lifted their target price on Pentair from $72.00 to $83.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Stifel Nicolaus lifted their target price on Pentair from $88.00 to $94.00 and gave the stock a buy rating in a research report on Thursday, March 7th. The Goldman Sachs Group reissued a neutral rating and set a $91.00 target price on shares of Pentair in a research report on Friday, March 22nd. Finally, Barclays lifted their target price on Pentair from $90.00 to $92.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pentair currently has a consensus rating of Moderate Buy and an average target price of $89.93.

Pentair Price Performance

Shares of Pentair stock opened at $78.99 on Wednesday. The firm has a fifty day simple moving average of $80.19 and a 200-day simple moving average of $71.79. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. Pentair has a 1-year low of $52.28 and a 1-year high of $85.81. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.49 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company earned $0.91 earnings per share. Pentair’s revenue for the quarter 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 business also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s dividend payout ratio is currently 24.47%.

Institutional Trading of Pentair

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. grew its holdings in shares of Pentair by 935.1% in the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after buying an additional 346 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after buying an additional 154 shares during the period. IFP Advisors Inc grew its holdings in shares of Pentair by 97.6% in the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after buying an additional 202 shares during the period. Quent Capital LLC grew its holdings in shares of Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after buying an additional 213 shares during the period. Finally, Baystate Wealth Management LLC acquired a new position in shares of Pentair in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

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.