Royal Bank of Canada Boosts Pentair (NYSE:PNR) Price Target to $115.00

Pentair (NYSE:PNR) had its price objective increased by Royal Bank of Canada from $101.00 to $115.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

PNR has been the subject of several other research reports. KeyCorp raised their target price on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday. Oppenheimer lifted their price objective on shares of Pentair from $98.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday. Mizuho increased 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. UBS Group lifted their price target on shares of Pentair from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pentair presently has a consensus rating of “Moderate Buy” and an average price target of $104.80.

Pentair Stock Down 0.4 %

Pentair stock opened at $98.96 on Wednesday. Pentair has a 52 week low of $57.40 and a 52 week high of $101.00. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.76 and a beta of 1.20. The company’s 50-day moving average price is $92.82 and its two-hundred day moving average price is $84.94. The company has a current ratio of 1.60, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.94 earnings per share. On average, analysts expect that Pentair will post 4.27 EPS for the current fiscal year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, October 18th. Pentair’s dividend payout ratio is currently 24.47%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its stake 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 valued at $610,000 after purchasing an additional 121 shares in the last quarter. Wedmont Private Capital raised its position in Pentair by 3.9% during the second quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock valued at $270,000 after acquiring an additional 128 shares in the last quarter. Fifth Third Bancorp lifted its stake in Pentair by 3.8% in the second quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $267,000 after acquiring an additional 129 shares during the last quarter. Inspire Advisors LLC grew its position in Pentair by 1.6% in the third quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock worth $794,000 after acquiring an additional 130 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of Pentair by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 36,624 shares of the industrial products company’s stock worth $2,808,000 after purchasing an additional 139 shares during the last quarter. Institutional investors and hedge funds 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.