Pentair plc (NYSE:PNR) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Pentair plc (NYSE:PNR) have been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $111.07.

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Pentair in a research note on Thursday, November 21st. KeyCorp restated a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Finally, Stifel Nicolaus decreased their price target on Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research note on Friday.

Pentair Stock Down 0.7 %

Shares of Pentair stock opened at $102.33 on Thursday. The business’s 50 day simple moving average is $104.04 and its 200 day simple moving average is $96.19. Pentair has a 52-week low of $71.40 and a 52-week high of $110.71. The firm has a market cap of $16.91 billion, a PE ratio of 25.58, a P/E/G ratio of 1.67 and a beta of 1.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60.

Pentair Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 24th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 0.98%. Pentair’s payout ratio is 23.00%.

Insider Activity at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pentair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in Pentair by 22.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,090 shares of the industrial products company’s stock valued at $2,737,000 after acquiring an additional 5,051 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in Pentair in the 4th quarter valued at $289,000. Longboard Asset Management LP acquired a new position in Pentair in the 4th quarter valued at $209,000. GEN Financial Management INC. acquired a new position in Pentair in the 4th quarter valued at $446,000. Finally, Spire Wealth Management acquired a new position in Pentair in the 4th quarter valued at $64,000. 92.37% of the stock is owned by institutional investors and hedge funds.

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.