Pentair (NYSE:PNR) Price Target Raised to $90.00 at Oppenheimer

Pentair (NYSE:PNR) had its price target upped by Oppenheimer from $88.00 to $90.00 in a research note published on Wednesday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other equities analysts have also issued reports about the company. BNP Paribas began coverage on Pentair in a research note on Tuesday, March 12th. They issued a neutral rating and a $86.00 price target on the stock. Barclays boosted their price objective on Pentair from $90.00 to $92.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Royal Bank of Canada boosted their price objective on Pentair from $78.00 to $87.00 and gave the company an outperform rating in a report on Monday, March 4th. Bank of America upgraded Pentair from an underperform rating to a neutral rating and boosted their price objective for the company from $46.00 to $76.00 in a report on Thursday, January 11th. Finally, Citigroup boosted their price objective on Pentair from $85.00 to $101.00 and gave the company a buy rating in a report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Pentair has a consensus rating of Moderate Buy and an average target price of $89.93.

Pentair Price Performance

Pentair stock opened at $79.96 on Wednesday. The stock’s 50 day moving average is $80.45 and its 200 day moving average is $72.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 0.94. The firm has a market cap of $13.27 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.38 and a beta of 1.20. Pentair has a one year low of $53.88 and a one year high of $85.81.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. As a group, research analysts expect that Pentair will post 4.24 EPS for the current year.

Pentair Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PNR. Assetmark Inc. boosted its position in Pentair by 935.1% in the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 346 shares during the last quarter. Lindbrook Capital LLC boosted 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 during the last quarter. IFP Advisors Inc lifted its position in shares of Pentair by 97.6% during the 3rd 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 during the last quarter. Quent Capital LLC lifted its position in shares of Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after buying an additional 213 shares during the last quarter. Finally, Baystate Wealth Management LLC purchased a new position in shares of Pentair during the 3rd quarter valued at $30,000. Hedge funds and other 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.