KeyCorp Reiterates “Sector Weight” Rating for Pentair (NYSE:PNR)

KeyCorp restated their sector weight rating on shares of Pentair (NYSE:PNR) in a research note issued to investors on Monday morning, Marketbeat reports. The firm currently has a $115.00 price objective on the industrial products company’s stock.

PNR has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. UBS Group raised their price objective on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wolfe Research initiated coverage on shares of Pentair in a research note on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price target on the stock. Stifel Nicolaus upped their price objective on shares of Pentair from $115.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, TD Cowen lifted their target price on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.38.

Pentair Trading Down 1.6 %

Pentair stock opened at $99.41 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. Pentair has a fifty-two week low of $68.63 and a fifty-two week high of $110.71. The stock has a market cap of $16.43 billion, a P/E ratio of 24.85, a PEG ratio of 1.91 and a beta of 1.21. The firm’s fifty day moving average price is $104.42 and its 200-day moving average price is $93.48.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 EPS. Equities research analysts forecast that Pentair will post 4.28 earnings per share for the current fiscal year.

Pentair Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, January 24th. This is a positive change from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. Pentair’s payout ratio is currently 25.00%.

Insider Transactions at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now owns 19,232 shares in the company, valued at $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its holdings in Pentair by 1.3% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 14,278 shares of the industrial products company’s stock worth $1,095,000 after purchasing an additional 178 shares during the period. TD Asset Management Inc lifted its position in shares of Pentair by 2.4% during the 2nd quarter. TD Asset Management Inc now owns 45,814 shares of the industrial products company’s stock valued at $3,513,000 after buying an additional 1,055 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Pentair by 24.4% during the 2nd quarter. National Bank of Canada FI now owns 45,925 shares of the industrial products company’s stock valued at $3,418,000 after acquiring an additional 9,005 shares during the period. Savant Capital LLC increased its holdings in Pentair by 9.5% in the 2nd quarter. Savant Capital LLC now owns 19,225 shares of the industrial products company’s stock worth $1,474,000 after acquiring an additional 1,675 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Pentair during the 2nd quarter worth approximately $447,000. 92.37% of the stock is currently 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.