Pentair (NYSE:PNR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Pentair (NYSE:PNR) from a hold rating to a buy rating in a report published on Sunday morning.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada upped their target price on shares of Pentair from $121.00 to $124.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. TD Cowen reiterated a “sell” rating and issued a $90.00 price objective (down from $110.00) on shares of Pentair in a research note on Monday, January 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Pentair in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut their target price on Pentair from $132.00 to $124.00 and set an “overweight” rating for the company in a research report on Friday, January 16th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $135.00 price target on shares of Pentair in a research report on Tuesday, December 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.75.

Pentair Price Performance

Shares of NYSE:PNR opened at $104.35 on Friday. The business’s 50 day moving average is $104.63 and its 200-day moving average is $106.55. The company has a current ratio of 1.46, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $17.08 billion, a PE ratio of 26.48, a PEG ratio of 1.88 and a beta of 1.22. Pentair has a 1-year low of $74.25 and a 1-year high of $113.95.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 21st. The industrial products company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.18 by $0.06. Pentair had a return on equity of 21.83% and a net margin of 15.84%.The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the business earned $1.09 earnings per share. Pentair’s quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts predict that Pentair will post 4.77 earnings per share for the current year.

Pentair Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 23rd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Pentair’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, January 23rd. Pentair’s payout ratio is presently 25.38%.

Insider Activity at Pentair

In other news, CFO Robert P. Fishman sold 7,786 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $105.42, for a total value of $820,800.12. Following the transaction, the chief financial officer owned 63,164 shares of the company’s stock, valued at $6,658,748.88. This represents a 10.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director T Michael Glenn sold 6,558 shares of Pentair stock in a transaction on Monday, December 1st. The stock was sold at an average price of $104.33, for a total value of $684,196.14. Following the sale, the director directly owned 31,192 shares of the company’s stock, valued at approximately $3,254,261.36. This trade represents a 17.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Pentair

Large investors have recently modified their holdings of the business. Parallel Advisors LLC raised its holdings in shares of Pentair by 29.2% during the second quarter. Parallel Advisors LLC now owns 1,264 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 286 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Pentair in the 2nd quarter valued at approximately $222,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Pentair by 0.5% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,965 shares of the industrial products company’s stock valued at $2,050,000 after acquiring an additional 108 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in Pentair by 1.3% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 60,900 shares of the industrial products company’s stock worth $6,252,000 after purchasing an additional 800 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Pentair by 1.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 84,651 shares of the industrial products company’s stock worth $9,047,000 after acquiring an additional 1,571 shares during the period. 92.37% of the stock is currently owned by institutional investors.

About Pentair

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.