Royal Bank of Canada Reiterates Outperform Rating for Pentair (NYSE:PNR)

Royal Bank of Canada restated their outperform rating on shares of Pentair (NYSE:PNR) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $115.00 target price on the industrial products company’s stock.

Several other research firms also recently issued reports on PNR. TD Cowen lifted their price target on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer raised their price target on Pentair from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Mizuho upped their target price on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.13.

Pentair Stock Up 0.3 %

Shares of NYSE:PNR traded up $0.27 during trading on Thursday, hitting $106.32. 144,151 shares of the company’s stock traded hands, compared to its average volume of 1,537,728. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $99.07 and a 200-day moving average price of $87.97. Pentair has a 52 week low of $62.63 and a 52 week high of $107.78. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.19.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. During the same quarter in the previous year, the firm posted $0.94 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. As a group, research analysts forecast that Pentair will post 4.28 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.23 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.87%. Pentair’s payout ratio is presently 23.00%.

Insider Buying and Selling at Pentair

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Pentair

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Opal Wealth Advisors LLC acquired a new position in shares of Pentair in the 2nd quarter worth approximately $25,000. Crewe Advisors LLC grew its stake in Pentair by 376.1% during the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 267 shares during the period. Quarry LP grew its stake in Pentair by 105.5% during the third quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 134 shares during the period. Family Firm Inc. bought a new position in shares of Pentair during the 2nd quarter worth approximately $48,000. Finally, Blue Trust Inc. grew its position in shares of Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock worth $51,000 after buying an additional 327 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

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.