Pentair (NYSE:PNR) Given New $101.00 Price Target at Stifel Nicolaus

Pentair (NYSE:PNR) had its target price boosted by Stifel Nicolaus from $100.00 to $101.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

A number of other research analysts have also recently issued reports on the stock. Northcoast Research cut shares of Pentair from a buy rating to a neutral rating in a research report on Friday, July 19th. Oppenheimer lifted their price target on shares of Pentair from $92.00 to $98.00 and gave the company an outperform rating in a research report on Wednesday. Barclays lifted their price target on shares of Pentair from $92.00 to $95.00 and gave the company an overweight rating in a research report on Wednesday, April 24th. Citigroup lifted their target price on shares of Pentair from $85.00 to $101.00 and gave the stock a buy rating in a report on Monday, April 8th. Finally, UBS Group lifted their target price on shares of Pentair from $83.00 to $91.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Pentair presently has a consensus rating of Moderate Buy and a consensus target price of $92.87.

Pentair Trading Up 2.8 %

NYSE:PNR opened at $88.50 on Wednesday. The company has a 50-day moving average price of $79.42 and a 200-day moving average price of $78.76. Pentair has a 12 month low of $57.18 and a 12 month high of $88.96. The company has a current ratio of 1.65, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51. The stock has a market cap of $14.65 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 1.60 and a beta of 1.21.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the company posted $1.03 EPS. Pentair’s revenue was up 1.6% on a year-over-year basis. Equities analysts predict that Pentair will post 4.25 EPS for the current year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be paid a $0.23 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.04%. Pentair’s dividend payout ratio is presently 24.47%.

Insider Transactions at Pentair

In related news, CEO Jerome O. Pedretti sold 24,747 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were 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 directly owns 38,538 shares in the company, valued at $3,254,534.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Pentair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Group AG increased its holdings in Pentair by 5.2% during the fourth quarter. UBS Group AG now owns 479,261 shares of the industrial products company’s stock valued at $34,847,000 after buying an additional 23,494 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Pentair during the fourth quarter valued at approximately $2,908,000. State Board of Administration of Florida Retirement System increased its holdings in Pentair by 5.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock valued at $15,820,000 after buying an additional 8,966 shares during the last quarter. Point72 Europe London LLP purchased a new stake in Pentair during the fourth quarter valued at approximately $921,000. Finally, Kodai Capital Management LP purchased a new stake in Pentair during the fourth quarter valued at approximately $173,280,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

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.