Pentair (NYSE:PNR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $77.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.34% from the company’s previous close.

According to Zacks, “Pentair expects its top-line to benefit in 2018 from carryover on cost-out initiatives. The company is poised to grow on its focus on reorganization activities. It remains on track to separate Water and Electrical businesses into two publicly-traded companies. The separation is expected to occur through a tax-free spin-off of Electrical segment in second-quarter 2018. Both companies are well positioned for long-term growth and value creation. Further, Pentair continues to see strength in residential and commercial and especially in foodservice in its Filtration & Process business. The company has a positive record of earnings surprises in recent quarters. “

Several other analysts have also issued reports on the stock. BMO Capital Markets restated a “hold” rating and issued a $70.00 price objective on shares of Pentair in a report on Wednesday, September 6th. KeyCorp restated a “buy” rating and issued a $77.00 price objective on shares of Pentair in a report on Thursday, October 12th. Robert W. Baird boosted their price objective on shares of Pentair from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Cowen restated an “underperform” rating and issued a $61.00 price objective (up from $59.00) on shares of Pentair in a report on Monday, October 2nd. Finally, Stifel Nicolaus restated a “hold” rating and issued a $76.00 price objective (up from $75.00) on shares of Pentair in a report on Wednesday, October 25th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $70.67.

Pentair (NYSE PNR) traded down $1.03 during midday trading on Tuesday, hitting $69.16. The stock had a trading volume of 929,900 shares, compared to its average volume of 985,531. Pentair has a fifty-two week low of $55.76 and a fifty-two week high of $71.76. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.59. The stock has a market cap of $12,746.32, a price-to-earnings ratio of 20.77, a PEG ratio of 1.86 and a beta of 1.41.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.93 by $0.02. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Pentair had a return on equity of 13.39% and a net margin of 12.50%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 EPS. equities research analysts expect that Pentair will post 3.53 earnings per share for the current fiscal year.

In other news, Director William T. Monahan sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $70.27, for a total transaction of $702,700.00. Following the completion of the transaction, the director now directly owns 50,656 shares of the company’s stock, valued at $3,559,597.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronald Merriman sold 5,200 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $67.00, for a total value of $348,400.00. Following the transaction, the director now directly owns 21,538 shares of the company’s stock, valued at $1,443,046. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 217,632 shares of company stock valued at $14,783,286. 9.90% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in PNR. Lord Abbett & CO. LLC boosted its holdings in Pentair by 193.2% in the second quarter. Lord Abbett & CO. LLC now owns 1,327,823 shares of the industrial products company’s stock valued at $88,353,000 after purchasing an additional 875,023 shares in the last quarter. Trian Fund Management L.P. boosted its holdings in Pentair by 6.0% in the second quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock valued at $1,011,470,000 after purchasing an additional 862,769 shares in the last quarter. BlackRock Inc. boosted its holdings in Pentair by 5.1% in the second quarter. BlackRock Inc. now owns 12,152,997 shares of the industrial products company’s stock valued at $808,662,000 after purchasing an additional 588,818 shares in the last quarter. Bain Capital Public Equity Management LLC boosted its holdings in Pentair by 67.3% in the second quarter. Bain Capital Public Equity Management LLC now owns 1,321,273 shares of the industrial products company’s stock valued at $87,918,000 after purchasing an additional 531,652 shares in the last quarter. Finally, AXA boosted its holdings in Pentair by 2,664.8% in the third quarter. AXA now owns 476,465 shares of the industrial products company’s stock valued at $32,380,000 after purchasing an additional 459,232 shares in the last quarter. 84.56% of the stock is owned by institutional investors and hedge funds.

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Pentair Company Profile

Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.

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