TD Cowen Raises Pentair (NYSE:PNR) Price Target to $85.00

Pentair (NYSE:PNR) had its price target boosted by TD Cowen from $80.00 to $85.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities research analysts have also commented on PNR. Oppenheimer boosted their price target on Pentair from $88.00 to $90.00 and gave the stock an outperform rating in a research note on Wednesday. Northcoast Research raised Pentair from a neutral rating to a buy rating and set a $100.00 target price on the stock in a research note on Monday, April 15th. Royal Bank of Canada upped their target price on Pentair from $101.00 to $103.00 and gave the company an outperform rating in a research note on Wednesday. Stifel Nicolaus upped their target price on Pentair from $88.00 to $94.00 and gave the company a buy rating in a research note on Thursday, March 7th. Finally, StockNews.com lowered Pentair from a buy rating to a hold rating in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $89.93.

Pentair Stock Performance

NYSE PNR opened at $79.96 on Wednesday. The business’s 50 day moving average is $80.35 and its two-hundred day moving average is $71.89. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.50 and a beta of 1.20. 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 12-month low of $53.88 and a 12-month high of $85.81.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 EPS. Research analysts expect that Pentair will post 4.21 EPS for the current year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. Pentair’s payout ratio is 24.47%.

Institutional Trading of Pentair

Institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. increased its holdings in shares of Pentair by 935.1% during the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after buying an additional 346 shares during the last quarter. Lindbrook Capital LLC increased its holdings in 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 purchasing an additional 154 shares in the last quarter. IFP Advisors Inc increased its holdings in 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 purchasing an additional 202 shares in the last quarter. Quent Capital LLC increased its holdings in 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 purchasing an additional 213 shares in the last quarter. Finally, Baystate Wealth Management LLC acquired a new stake in Pentair in the 3rd quarter valued at $30,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Company Profile

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.