Brokerages Set Pentair plc (NYSE:PNR) Price Target at $112.93

Pentair plc (NYSE:PNR) has earned an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $112.93.

A number of brokerages recently issued reports on PNR. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Pentair in a report on Thursday, November 21st. Robert W. Baird upped their target price on Pentair from $106.00 to $114.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. KeyCorp restated a “sector weight” rating and set a $115.00 target price on shares of Pentair in a report on Monday, January 6th. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Finally, Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th.

Hedge Funds Weigh In On Pentair

Hedge funds have recently made changes to their positions in the company. Harbour Investments Inc. increased its position in shares of Pentair by 10.7% in the 3rd quarter. Harbour Investments Inc. now owns 6,585 shares of the industrial products company’s stock valued at $644,000 after acquiring an additional 636 shares during the period. Moody National Bank Trust Division acquired a new position in shares of Pentair in the 4th quarter valued at $989,000. Algert Global LLC acquired a new position in shares of Pentair in the 3rd quarter valued at $479,000. FMR LLC increased its position in shares of Pentair by 4.7% in the 3rd quarter. FMR LLC now owns 5,704,672 shares of the industrial products company’s stock valued at $557,860,000 after acquiring an additional 258,134 shares during the period. Finally, Pathstone Holdings LLC increased its position in shares of Pentair by 47.4% in the 3rd quarter. Pathstone Holdings LLC now owns 19,881 shares of the industrial products company’s stock valued at $1,944,000 after acquiring an additional 6,391 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Stock Down 0.8 %

Shares of NYSE PNR opened at $88.34 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.60. The firm has a market capitalization of $14.56 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.87 and a beta of 1.23. The stock has a 50 day moving average price of $95.91 and a 200 day moving average price of $98.57. Pentair has a 52-week low of $72.63 and a 52-week high of $110.71.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The firm had revenue of $972.90 million during the quarter, compared to analyst estimates of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. Pentair’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 earnings per share. Sell-side analysts expect that Pentair will post 4.77 earnings per share for the current year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, April 17th. Pentair’s payout ratio is 26.74%.

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.