Pentair (PNR) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Pentair (NYSE:PNR) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $51.00 price objective on the industrial products company’s stock.
According to Zacks, “For 2019, Pentair projects adjusted EPS in the range of $2.50-$2.60, an increase of 6% to 11% year over year. The company anticipates sales to grow roughly 5-6% on a reported basis and 4-5% on core basis. All of its segments are poised to deliver improved results in 2019. Pentair remains well positioned to invest in the business backed by strong free cash flow and low debt levels. It continues to introduce new products, make acquisitions and investments in sync with its key growth initiatives of advancing pool growth, and accelerating residential and commercial water treatment. In line with this, Pentair recently entered into two strategic acquisitions – Aquion and Pelican Water Systems, which is likely to add roughly $110 million to its revenues.”
Several other research firms have also recently weighed in on PNR. ValuEngine upgraded shares of Pentair from a sell rating to a hold rating in a research report on Wednesday, March 20th. Oppenheimer restated a hold rating on shares of Pentair in a research report on Tuesday, January 29th. Finally, Morgan Stanley started coverage on shares of Pentair in a research report on Tuesday, December 18th. They issued an equal weight rating and a $41.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Pentair has a consensus rating of Hold and a consensus target price of $46.22.
Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. The firm had revenue of $740.50 million during the quarter, compared to analysts’ expectations of $735.74 million. Pentair had a net margin of 9.92% and a return on equity of 18.86%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 EPS. On average, research analysts predict that Pentair will post 2.57 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Wednesday, April 17th. Pentair’s dividend payout ratio is 30.64%.
In other news, SVP Ademir Sarcevic sold 2,435 shares of Pentair stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $45.00, for a total transaction of $109,575.00. Following the completion of the sale, the senior vice president now owns 2,763 shares in the company, valued at approximately $124,335. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Karl R. Frykman sold 10,241 shares of Pentair stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $41.28, for a total transaction of $422,748.48. Following the sale, the chief operating officer now owns 60,877 shares of the company’s stock, valued at approximately $2,513,002.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,942 shares of company stock valued at $543,730. 0.80% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Pentair by 1.9% during the 4th quarter. BlackRock Inc. now owns 13,138,848 shares of the industrial products company’s stock worth $496,385,000 after buying an additional 239,511 shares during the period. Impax Asset Management Group plc grew its position in shares of Pentair by 73.9% during the 4th quarter. Impax Asset Management Group plc now owns 3,386,199 shares of the industrial products company’s stock worth $127,931,000 after buying an additional 1,438,974 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pentair by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,636,336 shares of the industrial products company’s stock worth $99,599,000 after buying an additional 74,511 shares during the period. Geode Capital Management LLC boosted its stake in Pentair by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,522,995 shares of the industrial products company’s stock worth $95,180,000 after acquiring an additional 33,519 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Pentair by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,962,850 shares of the industrial products company’s stock worth $74,156,000 after acquiring an additional 187,946 shares during the last quarter. Institutional investors own 85.80% of the company’s stock.
Pentair Company Profile
Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.
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