Pentair (NYSE:PNR) Hits New 12-Month Low After Analyst Downgrade

Key Points

• Pentair shares fell to a new 52-week low after Seaport Research Partners downgraded the stock from buy to neutral, with the share price trading as low as $58.71 versus a prior close of $75.68.
• Several other analysts have also trimmed views or price targets recently, and the stock now carries a consensus Hold rating with an average price target of $105.93.
• The company reported better-than-expected quarterly results with EPS of $1.22 and revenue of $1.04 billion, and it also announced a quarterly dividend of $0.27 per share payable on August 7.

Pentair plc (NYSE:PNR - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday after Seaport Research Partners downgraded the stock from a buy rating to a neutral rating. The company traded as low as $58.71 and last traded at $58.9350, with a volume of 206749 shares. The stock had previously closed at $75.68.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus lowered their target price on Pentair from $110.00 to $103.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. TD Cowen lowered their price target on shares of Pentair from $90.00 to $75.00 and set a "sell" rating on the stock in a report on Wednesday, April 29th. Barclays reduced their price objective on Pentair from $95.00 to $92.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 29th. Oppenheimer cut their price target on Pentair from $122.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 29th. Finally, Weiss Ratings cut shares of Pentair from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Pentair has a consensus rating of "Hold" and an average price target of $105.93.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Sivia Capital Partners LLC acquired a new position in shares of Pentair during the 2nd quarter worth about $222,000. American Century Companies Inc. lifted its holdings in shares of Pentair by 5.8% during the second quarter. American Century Companies Inc. now owns 9,350 shares of the industrial products company's stock worth $960,000 after buying an additional 513 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Pentair by 27.2% in the second quarter. Cerity Partners LLC now owns 53,959 shares of the industrial products company's stock valued at $5,539,000 after acquiring an additional 11,523 shares during the period. Sei Investments Co. increased its position in Pentair by 54.7% during the second quarter. Sei Investments Co. now owns 76,469 shares of the industrial products company's stock worth $7,850,000 after acquiring an additional 27,053 shares during the period. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Pentair by 101.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 338,368 shares of the industrial products company's stock worth $34,737,000 after purchasing an additional 170,707 shares during the period. Institutional investors own 92.37% of the company's stock.

Pentair Stock Down 15.5%

The stock has a market capitalization of $10.33 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.30 and a beta of 1.03. The firm has a 50 day moving average of $74.43 and a 200-day moving average of $88.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.88 and a quick ratio of 1.19.

Pentair (NYSE:PNR - Get Free Report) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.05. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.Pentair's revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.11 earnings per share. On average, equities research analysts expect that Pentair plc will post 5.35 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, July 24th. Pentair's payout ratio is 26.47%.

Pentair Company Profile

Pentair plc NYSE: PNR is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair's offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.