Pentair (NYSE:PNR) Now Covered by Oppenheimer

Friday, June 11, 2021 | MarketBeat

Research analysts at Oppenheimer assumed coverage on shares of Pentair (NYSE:PNR) in a report released on Friday, TipRanks reports. The brokerage set a "buy" rating and a $75.00 price target on the industrial products company's stock. Oppenheimer's target price would indicate a potential upside of 12.06% from the company's current price. Oppenheimer also issued estimates for Pentair's Q3 2021 earnings at $0.70 EPS, Q4 2021 earnings at $0.76 EPS, FY2021 earnings at $3.00 EPS and FY2022 earnings at $3.35 EPS.

A number of other research firms have also issued reports on PNR. Citigroup upped their target price on Pentair from $78.00 to $81.00 and gave the company a "buy" rating in a research note on Friday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on Pentair from $78.00 to $81.00 and gave the company a "buy" rating in a research note on Friday. Royal Bank of Canada increased their price target on Pentair from $70.00 to $71.00 and gave the stock a "sector perform" rating in a research note on Friday. Barclays increased their price target on Pentair from $55.00 to $57.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 6th. Finally, Zacks Investment Research raised Pentair from a "hold" rating to a "buy" rating and set a $68.00 price target on the stock in a research note on Tuesday, April 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company's stock. The company currently has an average rating of "Hold" and an average price target of $61.80.

Shares of NYSE:PNR traded down $0.36 during trading on Friday, hitting $66.93. 18,069 shares of the stock were exchanged, compared to its average volume of 1,048,005. The company has a fifty day simple moving average of $66.15. The company has a market capitalization of $11.12 billion, a P/E ratio of 27.09, a PEG ratio of 1.99 and a beta of 1.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 1.47. Pentair has a 12-month low of $35.61 and a 12-month high of $70.76.

Pentair (NYSE:PNR) last posted its earnings results on Thursday, April 22nd. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.20. Pentair had a return on equity of 22.54% and a net margin of 13.06%. The firm had revenue of $865.90 million for the quarter, compared to analyst estimates of $773.01 million. During the same quarter in the prior year, the company earned $0.52 EPS. Pentair's revenue was up 22.0% on a year-over-year basis. As a group, research analysts predict that Pentair will post 3.01 EPS for the current year.

In related news, EVP John H. Jacko sold 30,979 shares of the firm's stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $69.51, for a total transaction of $2,153,350.29. Following the sale, the executive vice president now directly owns 10,790 shares in the company, valued at approximately $750,012.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.96% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in PNR. Creative Planning lifted its position in Pentair by 12.0% during the 4th quarter. Creative Planning now owns 7,106 shares of the industrial products company's stock worth $377,000 after acquiring an additional 764 shares in the last quarter. First Trust Advisors LP lifted its position in Pentair by 16.6% during the 4th quarter. First Trust Advisors LP now owns 527,030 shares of the industrial products company's stock worth $27,980,000 after acquiring an additional 74,906 shares in the last quarter. California Public Employees Retirement System lifted its position in Pentair by 4.4% during the 4th quarter. California Public Employees Retirement System now owns 398,628 shares of the industrial products company's stock worth $21,163,000 after acquiring an additional 16,846 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Pentair by 5.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 7,805 shares of the industrial products company's stock valued at $414,000 after purchasing an additional 425 shares in the last quarter. Finally, WBI Investments acquired a new position in shares of Pentair in the 4th quarter valued at approximately $774,000. 81.51% of the stock is currently owned by hedge funds and other institutional investors.

About Pentair

Pentair plc provides various smart water solutions worldwide. It operates through two segments, Consumer Solutions; and Industrial & Flow Technologies. The Consumer Solutions segment designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.

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