Pentair (NYSE:PNR) Price Target Raised to $116.00

Pentair (NYSE:PNR - Free Report) had its target price upped by JPMorgan Chase & Co. from $113.00 to $116.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company's stock.

Several other research firms have also issued reports on PNR. Wall Street Zen raised Pentair from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. TD Cowen lowered Pentair from a "buy" rating to a "hold" rating and decreased their target price for the company from $115.00 to $110.00 in a research report on Wednesday. Citigroup reissued a "buy" rating and issued a $125.00 price target (up from $99.00) on shares of Pentair in a report on Monday, July 14th. Baird R W upgraded shares of Pentair from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 25th. Finally, The Goldman Sachs Group set a $95.00 target price on shares of Pentair and gave the company a "neutral" rating in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.21.

Pentair Stock Down 0.7%

PNR stock traded down $0.76 during trading on Wednesday, reaching $102.87. 2,641,583 shares of the stock were exchanged, compared to its average volume of 1,798,467. The company has a current ratio of 1.45, a quick ratio of 1.22 and a debt-to-equity ratio of 0.38. Pentair has a twelve month low of $74.25 and a twelve month high of $110.71. The firm's 50 day moving average is $101.56 and its 200 day moving average is $95.45. The firm has a market cap of $16.86 billion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 1.97 and a beta of 1.09.

Pentair (NYSE:PNR - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.06. Pentair had a net margin of 14.86% and a return on equity of 21.62%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business posted $1.22 EPS. The firm's revenue was up 2.2% compared to the same quarter last year. As a group, research analysts forecast that Pentair will post 4.77 EPS for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. Pentair's dividend payout ratio is 25.84%.

Insider Buying and Selling

In other news, Director David A. /Wi Jones sold 6,558 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $89.94, for a total transaction of $589,826.52. Following the completion of the transaction, the director owned 26,313 shares in the company, valued at $2,366,591.22. This trade represents a 19.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pentair

Several institutional investors have recently added to or reduced their stakes in PNR. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Pentair by 0.5% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,965 shares of the industrial products company's stock worth $2,050,000 after purchasing an additional 108 shares during the last quarter. Horizon Investments LLC raised its position in Pentair by 4.8% during the first quarter. Horizon Investments LLC now owns 2,372 shares of the industrial products company's stock valued at $207,000 after purchasing an additional 109 shares during the period. Brooklyn Investment Group boosted its holdings in shares of Pentair by 14.8% in the 1st quarter. Brooklyn Investment Group now owns 847 shares of the industrial products company's stock worth $74,000 after purchasing an additional 109 shares during the period. Strategic Blueprint LLC raised its holdings in Pentair by 2.3% during the 1st quarter. Strategic Blueprint LLC now owns 5,521 shares of the industrial products company's stock valued at $483,000 after buying an additional 123 shares during the period. Finally, Signaturefd LLC lifted its position in Pentair by 11.5% in the second quarter. Signaturefd LLC now owns 1,245 shares of the industrial products company's stock worth $128,000 after buying an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company's stock.

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.