Pentair (NYSE:PNR) Given New $115.00 Price Target at Royal Bank of Canada

Pentair (NYSE:PNR) had its price objective boosted by Royal Bank of Canada from $101.00 to $115.00 in a report issued on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

Several other equities analysts have also recently weighed in on PNR. The Goldman Sachs Group raised their price objective on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Mizuho upped their price objective on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Northcoast Research cut shares of Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Finally, Stifel Nicolaus upped their target price on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating and ten 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 $104.80.

Pentair Stock Down 0.3 %

Pentair stock opened at $98.00 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average price is $92.24 and its two-hundred day moving average price is $84.73. The firm has a market capitalization of $16.22 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 1.78 and a beta of 1.20. Pentair has a 1-year low of $57.18 and a 1-year high of $99.96.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. On average, equities research analysts predict that Pentair will post 4.26 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.94%. Pentair’s payout ratio is 23.29%.

Institutional Trading of Pentair

A number of institutional investors have recently modified their holdings of the business. Millennium Management LLC grew its stake in Pentair by 0.7% in the 2nd quarter. Millennium Management LLC now owns 2,944,812 shares of the industrial products company’s stock valued at $225,779,000 after buying an additional 20,946 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Pentair by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,727,718 shares of the industrial products company’s stock valued at $209,132,000 after purchasing an additional 53,787 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Pentair by 91.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock worth $159,655,000 after purchasing an additional 996,325 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Pentair by 6.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,547 shares of the industrial products company’s stock worth $125,704,000 after purchasing an additional 105,724 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in Pentair by 352.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock worth $134,695,000 after purchasing an additional 1,228,635 shares during the period. 92.37% of the stock is currently 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.