Pentair (NYSE:PNR) Price Target Raised to $85.00 at TD Cowen

Pentair (NYSE:PNR) had its target price raised by TD Cowen from $80.00 to $85.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other research firms have also weighed in on PNR. Royal Bank of Canada boosted their target price on shares of Pentair from $101.00 to $103.00 and gave the stock an outperform rating in a research report on Wednesday. Mizuho boosted their target price on shares of Pentair from $82.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, March 7th. KeyCorp upped their price objective on shares of Pentair from $82.00 to $92.00 and gave the company an overweight rating in a research report on Thursday, March 7th. Northcoast Research raised shares of Pentair from a neutral rating to a buy rating and set a $100.00 price objective for the company in a research report on Monday, April 15th. Finally, BNP Paribas initiated coverage on shares of Pentair in a research report on Tuesday, March 12th. They set a neutral rating and a $86.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $89.93.

Pentair Trading Up 1.0 %

Shares of NYSE:PNR opened at $79.96 on Wednesday. The stock has a market capitalization of $13.28 billion, a PE ratio of 21.27, a P/E/G ratio of 1.50 and a beta of 1.20. Pentair has a 1 year low of $53.88 and a 1 year high of $85.81. The firm has a fifty day moving average price of $80.35 and a 200 day moving average price of $71.89. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. Pentair’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Analysts expect that Pentair will post 4.21 EPS for the current fiscal year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Lindbrook Capital LLC raised its position in Pentair by 82.4% in the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 154 shares in the last quarter. Assetmark Inc. grew its stake in Pentair by 935.1% during the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after buying an additional 346 shares during the last quarter. Quent Capital LLC grew its stake in shares of Pentair by 112.7% during the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Pentair by 97.6% during the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 202 shares during the last quarter. Finally, Baystate Wealth Management LLC bought a new stake in shares of Pentair during the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Company Profile

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.