Pentair (NYSE:PNR) Price Target Raised to $98.00

Pentair (NYSE:PNR) had its target price boosted by Deutsche Bank Aktiengesellschaft from $90.00 to $98.00 in a research note issued to investors on Wednesday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada lowered their price target on Pentair from $103.00 to $99.00 and set an outperform rating on the stock in a research report on Tuesday, June 25th. Northcoast Research cut Pentair from a buy rating to a neutral rating in a research report on Friday, July 19th. Oppenheimer raised their price objective on Pentair from $92.00 to $98.00 and gave the stock an outperform rating in a research note on Wednesday. Barclays raised their price objective on Pentair from $92.00 to $95.00 and gave the stock an overweight rating in a research note on Wednesday, April 24th. Finally, UBS Group raised their price objective on Pentair from $83.00 to $91.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $92.87.

Pentair Stock Up 2.8 %

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

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 the consensus estimate of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, research analysts predict that Pentair will post 4.25 earnings per share for the current year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 annualized dividend and a dividend yield of 1.04%. Pentair’s dividend payout ratio is 24.47%.

Insider Buying and Selling

In related news, CEO Jerome O. Pedretti sold 24,747 shares of the 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 directly owns 38,538 shares in the company, valued at $3,254,534.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pentair

Several institutional investors have recently bought and sold shares of PNR. Lindbrook Capital LLC raised its holdings in Pentair by 82.4% during the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after buying an additional 154 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in Pentair during the second quarter valued at about $25,000. Quent Capital LLC raised its holdings in Pentair by 112.7% during the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after buying an additional 213 shares in the last quarter. Family Firm Inc. bought a new position in Pentair during the second quarter valued at about $48,000. Finally, Rational Advisors LLC raised its holdings in Pentair by 200.0% during the first quarter. Rational Advisors LLC now owns 633 shares of the industrial products company’s stock valued at $54,000 after buying an additional 422 shares in the last quarter. 92.37% of the stock is currently owned by 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.