Pentair (NYSE:PNR) Price Target Increased to $90.00 by Analysts at Oppenheimer

Pentair (NYSE:PNR) had its price objective hoisted by Oppenheimer from $88.00 to $90.00 in a research report released on Wednesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

A number of other research analysts have also recently weighed in on the company. KeyCorp lifted their target price on Pentair from $82.00 to $92.00 and gave the company an overweight rating in a report on Thursday, March 7th. BNP Paribas began coverage on Pentair in a report on Tuesday, March 12th. They issued a neutral rating and a $86.00 target price on the stock. Stifel Nicolaus lifted their target price on Pentair from $88.00 to $94.00 and gave the company a buy rating in a report on Thursday, March 7th. The Goldman Sachs Group reiterated a neutral rating and issued a $91.00 target price on shares of Pentair in a report on Friday, March 22nd. Finally, Northcoast Research raised Pentair from a neutral rating to a buy rating and set a $100.00 price objective on the stock in a research report on Monday, April 15th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $89.93.

Pentair Price Performance

PNR stock opened at $79.96 on Wednesday. Pentair has a 52-week low of $53.88 and a 52-week high of $85.81. The stock’s fifty day simple moving average is $80.35 and its 200-day simple moving average is $71.89. The company has a quick ratio of 0.94, a current ratio of 1.90 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20.

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

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, April 18th. Pentair’s payout ratio is 24.47%.

Institutional Trading of Pentair

A number of hedge funds and other institutional investors have recently modified their holdings of PNR. AE Wealth Management LLC raised its stake in Pentair by 9.5% during the third quarter. AE Wealth Management LLC now owns 4,337 shares of the industrial products company’s stock valued at $281,000 after buying an additional 378 shares in the last quarter. IFP Advisors Inc raised its stake in 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 buying an additional 202 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Pentair during the third quarter valued at approximately $207,000. UMB Bank n.a. raised its stake in Pentair by 22,822.7% during the third quarter. UMB Bank n.a. now owns 74,728 shares of the industrial products company’s stock valued at $4,839,000 after buying an additional 74,402 shares in the last quarter. Finally, Oak Thistle LLC raised its stake in Pentair by 123.4% during the third quarter. Oak Thistle LLC now owns 17,760 shares of the industrial products company’s stock valued at $1,150,000 after buying an additional 9,809 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other 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.