Barclays Lowers Pentair (NYSE:PNR) Price Target to $110.00

Pentair (NYSE:PNR) had its target price cut by Barclays from $120.00 to $110.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other brokerages have also issued reports on PNR. Robert W. Baird upgraded shares of Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price objective on the stock in a report on Tuesday. Wolfe Research assumed coverage on shares of Pentair in a report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. Baird R W upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. KeyCorp reissued a “sector weight” rating and set a $115.00 target price on shares of Pentair in a research note on Monday, January 6th. Finally, Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.27.

Pentair Price Performance

Shares of PNR stock opened at $86.76 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The company has a market capitalization of $14.30 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23. The firm’s 50-day moving average is $94.54 and its two-hundred day moving average is $98.69. Pentair has a 12 month low of $72.63 and a 12 month high of $110.71.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The firm had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 earnings per share. Analysts predict that Pentair will post 4.77 earnings per share for the current year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio is currently 26.74%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Parvin Asset Management LLC acquired a new position in Pentair in the 4th quarter valued at about $25,000. Quarry LP grew its stake in shares of Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 134 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Pentair by 753.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 333 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 294 shares during the period. Colonial Trust Co SC increased its holdings in shares of Pentair by 230.8% in the fourth quarter. Colonial Trust Co SC now owns 344 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 240 shares during the period. Finally, Eastern Bank raised its stake in shares of Pentair by 144.9% during the fourth quarter. Eastern Bank now owns 507 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 300 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

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.