Pentair (NYSE:PNR) Price Target Raised to $115.00

Pentair (NYSE:PNR) had its price target upped by research analysts at Oppenheimer from $110.00 to $115.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target indicates a potential upside of 10.49% from the company’s current price.

A number of other brokerages have also weighed in on PNR. UBS Group raised their price target on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com cut Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Mizuho upped their price target on Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. KeyCorp raised their price target on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, TD Cowen boosted their price objective on Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.13.

Pentair Stock Performance

NYSE:PNR opened at $104.08 on Wednesday. The firm has a 50 day moving average of $96.47 and a 200-day moving average of $86.80. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. Pentair has a 1 year low of $60.38 and a 1 year high of $107.32. The stock has a market capitalization of $17.20 billion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 1.88 and a beta of 1.19.

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, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. As a group, sell-side analysts anticipate that Pentair will post 4.28 EPS for the current fiscal year.

Insider Activity

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the sale, the executive vice president now owns 19,232 shares in the company, valued at $1,916,853.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.28% of the stock is owned by company insiders.

Institutional Trading of Pentair

Large investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System boosted its holdings in shares of Pentair by 5.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 185,155 shares of the industrial products company’s stock valued at $15,820,000 after buying an additional 8,966 shares during the period. Cetera Investment Advisers increased its holdings in Pentair by 222.8% during the 1st quarter. Cetera Investment Advisers now owns 50,653 shares of the industrial products company’s stock worth $4,328,000 after purchasing an additional 34,959 shares in the last quarter. Swedbank AB raised its stake in shares of Pentair by 0.9% in the 2nd quarter. Swedbank AB now owns 1,146,271 shares of the industrial products company’s stock valued at $87,885,000 after purchasing an additional 10,000 shares during the period. ORG Partners LLC bought a new stake in shares of Pentair in the second quarter valued at about $631,000. Finally, Mizuho Markets Americas LLC boosted its position in shares of Pentair by 91.4% during the first quarter. Mizuho Markets Americas LLC now owns 145,540 shares of the industrial products company’s stock worth $12,435,000 after buying an additional 69,517 shares during the period. 92.37% of the stock is 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.