Barclays Raises Pentair (NYSE:PNR) Price Target to $95.00

Pentair (NYSE:PNR) had its price target hoisted by Barclays from $92.00 to $95.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other brokerages also recently commented on PNR. Citigroup boosted their target price on Pentair from $85.00 to $101.00 and gave the stock a buy rating in a report on Monday, April 8th. UBS Group boosted their target price on Pentair from $83.00 to $91.00 and gave the stock a buy rating in a report on Wednesday. Oppenheimer boosted their price objective on shares of Pentair from $88.00 to $90.00 and gave the stock an outperform rating in a research report on Wednesday. Northcoast Research upgraded shares of Pentair from a neutral rating to a buy rating and set a $100.00 price objective for the company in a research report on Monday, April 15th. Finally, StockNews.com cut shares of Pentair from a buy rating to a hold rating in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $89.93.

Pentair Stock Up 1.0 %

NYSE PNR opened at $79.96 on Wednesday. The company has a market capitalization of $13.28 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.50 and a beta of 1.20. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. Pentair has a 1-year low of $53.88 and a 1-year high of $85.81. The stock’s 50 day moving average is $80.35 and its two-hundred day moving average is $71.89.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. Pentair’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. Equities analysts forecast that Pentair will post 4.21 earnings per share for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s dividend payout ratio is currently 24.47%.

Institutional Trading of Pentair

A number of large investors have recently made changes to their positions in PNR. Kodai Capital Management LP bought a new stake in shares of Pentair in the 4th quarter valued at $173,280,000. AMF Tjanstepension AB bought a new stake in shares of Pentair in the 1st quarter valued at $45,096,000. Goldman Sachs Group Inc. increased its position in shares of Pentair by 138.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company’s stock valued at $60,655,000 after buying an additional 484,810 shares in the last quarter. KBC Group NV increased its position in shares of Pentair by 49.2% in the 4th quarter. KBC Group NV now owns 1,191,049 shares of the industrial products company’s stock valued at $86,601,000 after buying an additional 392,785 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Pentair in the 3rd quarter valued at $21,044,000. Institutional investors own 92.37% of the company’s stock.

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.