Pentair (NYSE:PNR) Price Target Lowered to $99.00 at Royal Bank of Canada

Pentair (NYSE:PNR) had its price target cut by Royal Bank of Canada from $103.00 to $99.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other brokerages have also weighed in on PNR. Stifel Nicolaus lifted their price target on shares of Pentair from $88.00 to $94.00 and gave the company a buy rating in a research note on Thursday, March 7th. Barclays upped their target price on shares of Pentair from $92.00 to $95.00 and gave the stock an overweight rating in a research note on Wednesday, April 24th. Citigroup lifted their price target on Pentair from $85.00 to $101.00 and gave the company a buy rating in a research note on Monday, April 8th. KeyCorp upped their price target on Pentair from $82.00 to $92.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. Finally, Mizuho lifted their price objective on shares of Pentair from $82.00 to $100.00 and gave the company a buy rating in a report on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $89.67.

Pentair Stock Down 7.1 %

Shares of NYSE:PNR opened at $74.31 on Tuesday. The company has a 50 day moving average price of $80.40 and a two-hundred day moving average price of $77.48. The company has a market capitalization of $12.34 billion, a PE ratio of 19.76, a PEG ratio of 1.37 and a beta of 1.22. Pentair has a 52 week low of $57.18 and a 52 week high of $85.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts forecast that Pentair will post 4.24 earnings per share for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.24%. Pentair’s payout ratio is 24.47%.

Insider Transactions at Pentair

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the sale, the chief executive officer now owns 38,538 shares of the company’s stock, valued at approximately $3,254,534.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Lindbrook Capital LLC increased its stake in shares of Pentair by 82.4% during the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 154 shares during the period. Quent Capital LLC lifted its holdings in shares of Pentair by 112.7% during the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after buying an additional 213 shares in the last quarter. Operose Advisors LLC bought a new stake in shares of Pentair in the third quarter valued at about $34,000. Rational Advisors LLC grew its stake in shares of Pentair by 200.0% in the first quarter. Rational Advisors LLC now owns 633 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 422 shares in the last quarter. Finally, LRI Investments LLC bought a new position in Pentair during the first quarter worth about $56,000. 92.37% of the stock is owned by institutional investors.

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.