Pentair (NYSE:PNR) Price Target Increased to $110.00 by Analysts at TD Cowen

Pentair (NYSE:PNR) had its price objective boosted by TD Cowen from $95.00 to $110.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

PNR has been the subject of a number of other research reports. Mizuho raised their target price on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Stifel Nicolaus raised their price objective on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. UBS Group boosted their target price on Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada raised their price target on Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, KeyCorp upped their price target on shares of Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and an average price target of $104.80.

Pentair Stock Down 0.3 %

Shares of NYSE:PNR opened at $98.00 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65. Pentair has a 52-week low of $57.18 and a 52-week high of $99.96. The firm has a market capitalization of $16.22 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.78 and a beta of 1.20. The stock has a 50 day moving average price of $92.24 and a 200-day moving average price of $84.73.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 earnings per share. As a group, equities research analysts anticipate that Pentair will post 4.26 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.94%. Pentair’s payout ratio is 23.29%.

Institutional Trading of Pentair

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in Pentair by 1.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 121 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of Pentair by 3.9% in the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock worth $270,000 after buying an additional 128 shares during the last quarter. Fifth Third Bancorp grew its position in Pentair by 3.8% during the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after buying an additional 129 shares during the period. Inspire Advisors LLC increased its holdings in Pentair by 1.6% during the third quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock valued at $794,000 after buying an additional 130 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in Pentair by 0.4% in the second quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after acquiring an additional 139 shares during the period. Institutional investors own 92.37% of the company’s stock.

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.