Pentair (NYSE:PNR) Price Target Raised to $120.00

Pentair (NYSE:PNR) had its price target lifted by research analysts at Barclays from $108.00 to $120.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price objective would indicate a potential upside of 11.00% from the company’s previous close.

PNR has been the topic of a number of other reports. Wolfe Research began coverage on shares of Pentair in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 target price on the stock. KeyCorp increased their price objective on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their target price on shares of Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Oppenheimer raised their price objective on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Mizuho upped their price target on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Pentair has a consensus rating of “Moderate Buy” and an average target price of $107.13.

Pentair Price Performance

Shares of NYSE:PNR traded down $0.65 during midday trading on Thursday, reaching $108.11. 98,856 shares of the company were exchanged, compared to its average volume of 1,526,933. The business’s fifty day moving average is $101.60 and its two-hundred day moving average is $89.59. Pentair has a one year low of $65.75 and a one year high of $110.71. The stock has a market cap of $17.86 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.94 and a beta of 1.20. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

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 company had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. Pentair’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. As a group, analysts predict that Pentair will post 4.28 earnings per share for the current year.

Insiders Place Their Bets

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the transaction, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. This represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Pentair

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in Pentair by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,956 shares of the industrial products company’s stock valued at $610,000 after acquiring an additional 121 shares during the period. Wedmont Private Capital raised its position in shares of Pentair by 3.9% during the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company’s stock worth $270,000 after acquiring an additional 128 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Pentair by 3.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 129 shares in the last quarter. Inspire Advisors LLC raised its position in shares of Pentair by 1.6% during the 3rd quarter. Inspire Advisors LLC now owns 8,121 shares of the industrial products company’s stock worth $794,000 after acquiring an additional 130 shares in the last quarter. Finally, Quarry LP raised its position in shares of Pentair by 105.5% during the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 134 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Company Profile

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.