TD Cowen Raises Pentair (NYSE:PNR) Price Target to $85.00

Pentair (NYSE:PNR) had its price objective boosted by TD Cowen from $80.00 to $85.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts have also recently issued reports on the company. StockNews.com cut Pentair from a buy rating to a hold rating in a report on Friday, February 2nd. Royal Bank of Canada increased their price objective on shares of Pentair from $101.00 to $103.00 and gave the stock an outperform rating in a research note on Wednesday. UBS Group increased their price objective on shares of Pentair from $83.00 to $91.00 and gave the stock a buy 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. Finally, Northcoast Research upgraded shares of Pentair from a neutral rating to a buy rating and set a $100.00 price objective for the company in a research note on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $89.93.

Pentair Price Performance

PNR opened at $78.99 on Wednesday. The company has a fifty day simple moving average of $80.19 and a 200 day simple moving average of $71.79. The stock has a market cap of $13.11 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.49 and a beta of 1.20. The company has a quick ratio of 0.94, a current ratio of 1.90 and a debt-to-equity ratio of 0.63. Pentair has a 12 month low of $52.28 and a 12 month high of $85.81.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. On average, research analysts expect that Pentair will post 4.2 EPS for the current year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be issued a $0.23 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.92 annualized dividend and a yield of 1.16%. Pentair’s dividend payout ratio is currently 24.47%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB increased its holdings in shares of Pentair by 191.8% during the fourth quarter. Nordea Investment Management AB now owns 70,424 shares of the industrial products company’s stock worth $5,122,000 after purchasing an additional 46,290 shares during the period. Vanguard Group Inc. boosted its position in Pentair by 1.0% in the third quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock valued at $1,287,364,000 after buying an additional 204,416 shares in the last quarter. Vest Financial LLC boosted its position in Pentair by 31.7% in the fourth quarter. Vest Financial LLC now owns 450,602 shares of the industrial products company’s stock valued at $32,763,000 after buying an additional 108,560 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Pentair by 8.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 348,573 shares of the industrial products company’s stock valued at $25,299,000 after buying an additional 27,122 shares in the last quarter. Finally, Prudential PLC acquired a new stake in Pentair in the third quarter valued at approximately $566,000. 92.37% of the stock is owned by 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.