Pentair (PNR) Upgraded to “Hold” by Zacks Investment Research

Pentair (NYSE:PNR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Pentair’s 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, which includes the spin-off its Electrical business. In the Filtration & Process business, it continues to see strength in residential and commercial and especially in foodservice. However, Pentair’s Aquatic Systems will bear the burnt of the impact of recent hurricanes. Material and other cost inflation, declines in project orders, particularly within the energy and infrastructure businesses will hurt results. Pentair underperformed the industry with respect to price over the past year.”

Other equities analysts also recently issued reports about the company. Stifel Nicolaus restated a “hold” rating and issued a $67.00 price objective on shares of Pentair in a research report on Wednesday, October 4th. KeyCorp restated a “buy” rating and issued a $77.00 price objective on shares of Pentair in a research report on Thursday, October 12th. Robert W. Baird boosted their price objective on Pentair from $70.00 to $74.00 and gave the company a “neutral” rating in a research 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 research report on Monday, October 2nd. Finally, Seaport Global Securities restated a “buy” rating on shares of Pentair in a research report on Wednesday, October 25th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Pentair presently has a consensus rating of “Hold” and an average target price of $70.91.

Shares of Pentair (NYSE:PNR) traded down $0.20 during trading on Wednesday, hitting $73.56. The stock had a trading volume of 712,800 shares, compared to its average volume of 893,920. Pentair has a fifty-two week low of $57.44 and a fifty-two week high of $74.84. The stock has a market capitalization of $13,394.63, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41. The company has a quick ratio of 1.05, a current ratio of 1.59 and a debt-to-equity ratio of 0.30.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.02. Pentair had a return on equity of 13.39% and a net margin of 12.50%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. analysts forecast that Pentair will post 3.53 earnings per share for the current year.

In related news, Director Trian Fund Management, L.P. acquired 9,966 shares of Pentair stock in a transaction on Monday, November 27th. The shares were bought at an average cost of $69.22 per share, with a total value of $689,846.52. Following the completion of the purchase, the director now directly owns 1,122 shares of the company’s stock, valued at approximately $77,664.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Karl R. Frykman sold 7,385 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $70.00, for a total value of $516,950.00. Following the sale, the insider now directly owns 40,775 shares in the company, valued at $2,854,250. The disclosure for this sale can be found here. Insiders sold 212,432 shares of company stock worth $14,434,886 over the last quarter. 9.90% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Pentair by 3.3% during the first quarter. Geode Capital Management LLC now owns 1,491,423 shares of the industrial products company’s stock worth $80,760,000 after acquiring an additional 47,150 shares during the last quarter. Deprince Race & Zollo Inc. grew its stake in shares of Pentair by 2.5% during the second quarter. Deprince Race & Zollo Inc. now owns 567,952 shares of the industrial products company’s stock valued at $33,106,000 after buying an additional 14,074 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Pentair by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 15,065,442 shares of the industrial products company’s stock valued at $746,192,000 after buying an additional 411,932 shares during the last quarter. Northern Capital Management LLC bought a new position in shares of Pentair during the fourth quarter valued at approximately $1,351,000. Finally, vontobel swiss wealth advisors AG bought a new position in shares of Pentair during the fourth quarter valued at approximately $3,278,000. 84.39% of the stock is currently owned by institutional investors.

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About Pentair

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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