Pentair (NYSE:PNR) Reaches New 12-Month High on Analyst Upgrade

Pentair plc (NYSE:PNR)’s share price reached a new 52-week high during mid-day trading on Monday after KeyCorp raised their price target on the stock from $97.00 to $110.00. KeyCorp currently has an overweight rating on the stock. Pentair traded as high as $98.58 and last traded at $98.35, with a volume of 105986 shares trading hands. The stock had previously closed at $97.63.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus raised their target price on shares of Pentair from $100.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Northcoast Research cut shares of Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Oppenheimer raised their target price on shares of Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised their target price on shares of Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Barclays raised their target price on shares of Pentair from $96.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.33.

Institutional Investors Weigh In On Pentair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new stake in Pentair in the 2nd quarter worth approximately $25,000. Crewe Advisors LLC lifted its position in Pentair by 376.1% in the 2nd quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after buying an additional 267 shares in the last quarter. Family Firm Inc. purchased a new stake in Pentair in the 2nd quarter worth approximately $48,000. LRI Investments LLC purchased a new stake in Pentair in the 1st quarter worth approximately $56,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in Pentair by 59.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 705 shares of the industrial products company’s stock worth $69,000 after buying an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Trading Up 1.2 %

The company’s 50 day moving average price is $90.07 and its 200 day moving average price is $84.00. The company has a market cap of $16.41 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the business posted $1.03 EPS. Pentair’s quarterly revenue was up 1.6% on a year-over-year basis. Research analysts anticipate that Pentair plc will post 4.26 EPS for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. Pentair’s dividend payout ratio (DPR) is 24.47%.

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.