Pentair (NYSE:PNR) Given New $90.00 Price Target at Oppenheimer

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

Several other brokerages have also issued reports on PNR. Barclays increased their price target on shares of Pentair from $90.00 to $92.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. Northcoast Research upgraded shares of Pentair from a neutral rating to a buy rating and set a $100.00 price target for the company in a research note on Monday, April 15th. KeyCorp increased their price target on shares of Pentair from $82.00 to $92.00 and gave the stock an overweight rating in a research note on Thursday, March 7th. Citigroup increased their price target on shares of Pentair from $85.00 to $101.00 and gave the stock a buy rating in a research note on Monday, April 8th. Finally, UBS Group raised their price objective on shares of Pentair from $72.00 to $83.00 and gave the company a buy rating in a research note on Wednesday, January 10th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $89.93.

Pentair Trading Up 0.7 %

Shares of PNR opened at $78.99 on Wednesday. The stock has a market capitalization of $13.11 billion, a P/E ratio of 21.01, a PEG 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. The firm has a fifty day simple moving average of $80.19 and a two-hundred day simple moving average of $71.79. Pentair has a twelve month low of $52.28 and a twelve month high of $85.81.

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

Pentair Dividend Announcement

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

Hedge Funds Weigh In On Pentair

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Assetmark Inc. lifted its holdings in Pentair by 935.1% during the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 346 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Pentair by 82.4% during the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 154 shares in the last quarter. IFP Advisors Inc lifted its holdings in Pentair by 97.6% during the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 202 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Pentair by 112.7% in the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after buying an additional 213 shares in the last quarter. Finally, Baystate Wealth Management LLC purchased a new position in shares of Pentair in the third quarter worth $30,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

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.