Pentair plc (NYSE:PNR) Receives $77.08 Consensus Price Target from Brokerages

Shares of Pentair plc (NYSE:PNRGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $77.08.

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of Pentair from $72.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Royal Bank of Canada lowered their target price on shares of Pentair from $79.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Bank of America upgraded shares of Pentair from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. Barclays raised their target price on shares of Pentair from $81.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus raised their target price on shares of Pentair from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th.

View Our Latest Stock Report on PNR

Insider Transactions at Pentair

In other news, Director David A. /Wi Jones sold 2,260 shares of Pentair stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $67.85, for a total transaction of $153,341.00. Following the completion of the transaction, the director now owns 23,081 shares of the company’s stock, valued at approximately $1,566,045.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in Pentair by 10.6% in the 1st quarter. BlackRock Inc. now owns 15,999,717 shares of the industrial products company’s stock valued at $884,304,000 after purchasing an additional 1,526,893 shares during the last quarter. Millennium Management LLC raised its stake in Pentair by 100.3% in the 4th quarter. Millennium Management LLC now owns 2,208,270 shares of the industrial products company’s stock valued at $99,328,000 after purchasing an additional 1,105,735 shares during the last quarter. Robeco Schweiz AG raised its stake in Pentair by 41.3% in the 1st quarter. Robeco Schweiz AG now owns 2,667,551 shares of the industrial products company’s stock valued at $144,608,000 after purchasing an additional 780,043 shares during the last quarter. Parnassus Investments LLC raised its stake in Pentair by 42.5% in the 2nd quarter. Parnassus Investments LLC now owns 1,977,944 shares of the industrial products company’s stock valued at $127,775,000 after purchasing an additional 589,491 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Pentair by 176.4% in the 1st quarter. Renaissance Technologies LLC now owns 892,164 shares of the industrial products company’s stock valued at $48,364,000 after purchasing an additional 569,400 shares during the last quarter. Institutional investors and hedge funds own 88.60% of the company’s stock.

Pentair Stock Up 0.1 %

Shares of NYSE:PNR opened at $74.48 on Thursday. The firm’s 50 day moving average price is $70.99 and its 200 day moving average price is $67.26. The stock has a market cap of $12.31 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20. Pentair has a fifty-two week low of $50.15 and a fifty-two week high of $75.41. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.62.

Pentair (NYSE:PNRGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The company had revenue of $984.60 million for the quarter, compared to analysts’ expectations of $975.36 million. During the same quarter last year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities research analysts predict that Pentair will post 4.22 earnings per share for the current fiscal year.

Pentair Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Wednesday, January 10th were given a dividend of $0.23 per share. This is a positive change from Pentair’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, January 18th. Pentair’s payout ratio is presently 24.53%.

About Pentair

(Get Free Report

Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.

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