Mizuho Raises Pentair (NYSE:PNR) Price Target to $110.00

Pentair (NYSE:PNR) had its price objective raised by Mizuho from $100.00 to $110.00 in a report published on Thursday morning, Benzinga reports. Mizuho currently has an outperform rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Barclays upped their price objective on shares of Pentair from $96.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada boosted their target price on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Oppenheimer increased their price target on Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group boosted their price objective on Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Pentair currently has an average rating of “Moderate Buy” and a consensus target price of $95.93.

Pentair Stock Down 0.0 %

PNR stock opened at $99.04 on Thursday. The stock has a market capitalization of $16.39 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 1.77 and a beta of 1.20. Pentair has a 52 week low of $57.18 and a 52 week high of $99.95. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $91.36 and a 200 day moving average of $84.40.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts forecast that Pentair will post 4.26 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s dividend payout ratio is currently 23.29%.

Institutional Investors Weigh In On Pentair

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale grew its holdings 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 valued at $134,695,000 after buying an additional 1,228,635 shares in the last quarter. Swedbank AB acquired a new position in shares of Pentair during the 1st quarter valued at about $97,083,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Pentair by 91.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,082,362 shares of the industrial products company’s stock valued at $159,655,000 after purchasing an additional 996,325 shares during the period. Interval Partners LP increased its position in Pentair by 289.6% during the second quarter. Interval Partners LP now owns 956,117 shares of the industrial products company’s stock worth $73,305,000 after purchasing an additional 710,703 shares during the last quarter. Finally, AMF Tjanstepension AB purchased a new position in Pentair during the first quarter worth about $45,096,000. 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.