Morgan Stanley Upgrades Pentair (NYSE:PNR) to Overweight

Morgan Stanley upgraded shares of Pentair (NYSE:PNR) from an equal weight rating to an overweight rating in a report published on Monday, BenzingaRatingsTable reports. The brokerage currently has $32.00 price target on the industrial products company’s stock, down from their previous price target of $37.00.

Other equities analysts have also recently issued research reports about the company. Goldman Sachs Group raised Pentair from a neutral rating to a buy rating and upped their price target for the stock from $42.00 to $54.00 in a report on Wednesday, January 15th. Royal Bank of Canada reaffirmed a hold rating and issued a $48.00 price target on shares of Pentair in a report on Wednesday, December 18th. Rosenblatt Securities reaffirmed a buy rating on shares of Pentair in a report on Wednesday, January 29th. Cowen upped their price target on Pentair from $45.00 to $52.00 and gave the stock an outperform rating in a report on Monday, December 9th. Finally, Citigroup started coverage on Pentair in a report on Tuesday, December 17th. They issued a neutral rating and a $50.00 price target for the company. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Pentair currently has a consensus rating of Hold and a consensus price target of $46.10.

NYSE PNR opened at $30.41 on Monday. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.62 and a beta of 1.19. Pentair has a twelve month low of $22.01 and a twelve month high of $47.43. The company has a current ratio of 1.42, a quick ratio of 0.91 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average of $37.96 and a 200 day moving average of $41.26.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $755.20 million during the quarter, compared to analysts’ expectations of $754.02 million. Pentair had a return on equity of 21.60% and a net margin of 12.03%. Pentair’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. Equities analysts predict that Pentair will post 2.5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.50%. Pentair’s payout ratio is currently 31.93%.

Several institutional investors have recently made changes to their positions in PNR. Americana Partners LLC acquired a new position in shares of Pentair during the fourth quarter valued at approximately $26,000. Covington Capital Management raised its holdings in shares of Pentair by 25.0% during the third quarter. Covington Capital Management now owns 1,250 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 250 shares during the last quarter. Great Diamond Partners LLC acquired a new position in shares of Pentair during the fourth quarter valued at approximately $48,000. NEXT Financial Group Inc raised its holdings in shares of Pentair by 418.3% during the fourth quarter. NEXT Financial Group Inc now owns 1,218 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 983 shares during the last quarter. Finally, Pendal Group Ltd acquired a new position in shares of Pentair during the fourth quarter valued at approximately $59,000. 87.65% of the stock is owned by institutional investors and hedge funds.

Pentair Company Profile

Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment manufactures and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, pool repair, renovation, service and construction, and aquaculture solution applications.

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Analyst Recommendations for Pentair (NYSE:PNR)

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