Pentair PLC.’s (NYSE:PNR) “Buy” Rating Reiterated at Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their buy rating on shares of Pentair PLC. (NYSE:PNR) in a research note released on Wednesday morning. The brokerage currently has a $77.00 price target on the industrial products company’s stock.
PNR has been the topic of several other reports. Zacks Investment Research lowered Pentair PLC. from a buy rating to a hold rating in a report on Tuesday, April 18th. TheStreet upgraded Pentair PLC. from a c+ rating to a b rating in a report on Monday, April 17th. BMO Capital Markets reaffirmed a hold rating and issued a $61.00 target price on shares of Pentair PLC. in a research report on Wednesday, April 26th. Gabelli downgraded Pentair PLC. from a buy rating to a hold rating in a research report on Wednesday, April 26th. Finally, Stifel Nicolaus lifted their target price on Pentair PLC. from $63.00 to $64.00 and gave the company a hold rating in a research report on Friday, April 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Pentair PLC. presently has an average rating of Hold and an average price target of $66.85.
Pentair PLC. (NYSE:PNR) opened at 66.54 on Wednesday. The stock has a 50 day moving average price of $65.91 and a 200 day moving average price of $61.76. Pentair PLC. has a 1-year low of $53.80 and a 1-year high of $69.03. The company has a market cap of $12.13 billion, a PE ratio of 24.22 and a beta of 1.40.
Pentair PLC. (NYSE:PNR) last released its earnings results on Tuesday, April 25th. The industrial products company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.04. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Pentair PLC. had a return on equity of 14.19% and a net margin of 9.46%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.76 EPS. Equities analysts forecast that Pentair PLC. will post $3.53 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 4th. Investors of record on Friday, July 21st will be issued a $0.345 dividend. The ex-dividend date is Wednesday, July 19th. This represents a $1.38 dividend on an annualized basis and a yield of 2.07%. Pentair PLC.’s payout ratio is 50.37%.
In related news, insider Trian Fund Management, L.P. acquired 863,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average cost of $65.25 per share, for a total transaction of $56,310,750.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Angela D. Jilek sold 1,367 shares of the stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $65.00, for a total value of $88,855.00. Following the completion of the sale, the vice president now owns 33,262 shares of the company’s stock, valued at $2,162,030. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 1,726,000 shares of company stock valued at $112,619,140 and sold 356,353 shares valued at $23,432,170. Corporate insiders own 9.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new stake in Pentair PLC. during the fourth quarter worth $556,000. AQR Capital Management LLC acquired a new stake in shares of Pentair PLC. during the fourth quarter worth $510,000. Elkhorn Investments LLC acquired a new stake in shares of Pentair PLC. during the fourth quarter worth $624,000. UBS Asset Management Americas Inc. increased its stake in shares of Pentair PLC. by 5.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,197,607 shares of the industrial products company’s stock worth $67,149,000 after buying an additional 58,957 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Pentair PLC. by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 251,711 shares of the industrial products company’s stock worth $14,113,000 after buying an additional 1,637 shares during the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.
Pentair PLC. Company Profile
Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.
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