Deutsche Bank Aktiengesellschaft Raises Pentair (NYSE:PNR) Price Target to $98.00

Pentair (NYSE:PNR) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $90.00 to $98.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other research firms have also commented on PNR. TD Cowen upped their price target on shares of Pentair from $80.00 to $85.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Oppenheimer upped their price target on shares of Pentair from $92.00 to $98.00 and gave the stock an outperform rating in a research report on Wednesday. Barclays upped their price target on shares of Pentair from $92.00 to $95.00 and gave the stock an overweight rating in a research report on Wednesday, April 24th. Royal Bank of Canada decreased their target price on shares of Pentair from $103.00 to $99.00 and set an outperform rating for the company in a research report on Tuesday, June 25th. Finally, UBS Group increased their target price on shares of Pentair from $83.00 to $91.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $92.87.

Pentair Trading Up 2.8 %

PNR opened at $88.50 on Wednesday. The stock has a market capitalization of $14.65 billion, a PE ratio of 23.54, a P/E/G ratio of 1.55 and a beta of 1.21. Pentair has a 12-month low of $57.18 and a 12-month high of $88.96. The firm’s fifty day moving average price is $79.33 and its 200 day moving average price is $78.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 1.17.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 earnings per share. As a group, research analysts expect that Pentair will post 4.25 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s dividend payout ratio is presently 24.47%.

Insider Buying and Selling at Pentair

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the sale, the chief executive officer now directly owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Pentair

A number of hedge funds have recently added to or reduced their stakes in PNR. Lindbrook Capital LLC increased its holdings 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 buying an additional 154 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Pentair in the second quarter worth approximately $25,000. Quent Capital LLC increased its holdings in 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 during the last quarter. Family Firm Inc. acquired a new position in Pentair in the second quarter worth approximately $48,000. Finally, Rational Advisors LLC increased its holdings in Pentair by 200.0% in the first quarter. Rational Advisors LLC now owns 633 shares of the industrial products company’s stock worth $54,000 after buying an additional 422 shares during the last quarter. Institutional investors and hedge funds 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.