Pentair (NYSE:PNR) Price Target Cut to $119.00 by Analysts at Citigroup

Pentair (NYSE:PNR) had its target price cut by Citigroup from $126.00 to $119.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective would indicate a potential upside of 21.22% from the stock’s previous close.

A number of other research analysts have also recently issued reports on PNR. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Wolfe Research initiated coverage on shares of Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price for the company. TD Cowen lifted their target price on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on shares of Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, UBS Group lifted their target price on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $111.13.

Pentair Trading Up 1.2 %

Shares of PNR traded up $1.20 during trading hours on Monday, reaching $98.17. 357,575 shares of the company traded hands, compared to its average volume of 892,212. Pentair has a 12 month low of $69.42 and a 12 month high of $110.71. The company has a market capitalization of $16.22 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 1.91 and a beta of 1.21. The company’s fifty day moving average price is $104.38 and its two-hundred day moving average price is $94.09. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The company had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. During the same period last year, the company posted $0.94 EPS. Pentair’s revenue was down 1.5% on a year-over-year basis. Equities research analysts predict that Pentair will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pentair

A number of hedge funds have recently modified their holdings of PNR. Quarry LP boosted its position in shares of Pentair by 105.5% in the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares during the period. Blue Trust Inc. boosted its position in shares of Pentair by 165.2% in the third quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 327 shares during the period. True Wealth Design LLC boosted its position in shares of Pentair by 4,450.0% in the third quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 623 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pentair in the second quarter worth approximately $67,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Pentair by 59.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 705 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 262 shares during the period. 92.37% of the stock is currently owned by institutional investors.

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.