UBS Group Increases Pentair (NYSE:PNR) Price Target to $91.00

Pentair (NYSE:PNR) had its target price boosted by UBS Group from $83.00 to $91.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other brokerages have also recently commented on PNR. BNP Paribas initiated coverage on Pentair in a research note on Tuesday, March 12th. They set a neutral rating and a $86.00 price objective on the stock. Royal Bank of Canada boosted their price objective on Pentair from $101.00 to $103.00 and gave the stock an outperform rating in a research note on Wednesday. The Goldman Sachs Group restated a neutral rating and set a $91.00 price objective on shares of Pentair in a research note on Friday, March 22nd. Mizuho boosted their price objective on Pentair from $82.00 to $100.00 and gave the stock a buy rating in a research note on Thursday, March 7th. Finally, Oppenheimer boosted their price target on Pentair from $88.00 to $90.00 and gave the stock an outperform rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Pentair has an average rating of Moderate Buy and a consensus target price of $89.93.

Pentair Price Performance

PNR stock opened at $79.96 on Wednesday. The stock has a 50-day moving average price of $80.35 and a two-hundred day moving average price of $71.89. Pentair has a 12-month low of $53.88 and a 12-month high of $85.81. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. The company has a market cap of $13.28 billion, a PE 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 results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. As a group, research analysts predict that Pentair will post 4.21 EPS for the current year.

Pentair Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Pentair by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock worth $1,287,364,000 after buying an additional 204,416 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in Pentair by 1.3% during the 4th quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock worth $718,440,000 after buying an additional 131,745 shares during the last quarter. Kodai Capital Management LP bought a new position in Pentair during the 4th quarter worth approximately $173,280,000. Northern Trust Corp lifted its holdings in Pentair by 6.0% during the 3rd quarter. Northern Trust Corp now owns 1,724,390 shares of the industrial products company’s stock worth $111,654,000 after buying an additional 98,175 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Pentair by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,377,786 shares of the industrial products company’s stock worth $100,179,000 after buying an additional 16,875 shares during the last quarter. Institutional investors 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.