Pentair (NYSE:PNR) Price Target Raised to $122.00 at Mizuho

Pentair (NYSE:PNR - Free Report) had its target price upped by Mizuho from $118.00 to $122.00 in a report released on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the industrial products company's stock.

A number of other analysts also recently issued reports on PNR. JPMorgan Chase & Co. lifted their price target on shares of Pentair from $113.00 to $116.00 and gave the company an "overweight" rating in a report on Wednesday. Barclays lifted their price objective on Pentair from $116.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on shares of Pentair from $104.00 to $124.00 and gave the stock a "buy" rating in a research report on Monday. The Goldman Sachs Group set a $95.00 price target on shares of Pentair and gave the stock a "neutral" rating in a research report on Tuesday, April 22nd. Finally, Robert W. Baird boosted their target price on shares of Pentair from $107.00 to $121.00 and gave the stock an "outperform" rating in a report on Wednesday. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $115.46.

Pentair Stock Performance

NYSE PNR traded up $0.46 on Wednesday, reaching $103.31. 246,288 shares of the stock were exchanged, compared to its average volume of 1,550,454. The firm has a market capitalization of $16.94 billion, a PE ratio of 28.23, a PEG ratio of 1.97 and a beta of 1.09. Pentair has a one year low of $74.25 and a one year high of $110.71. The company's 50-day simple moving average is $101.56 and its two-hundred day simple moving average is $95.45. 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 (NYSE:PNR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.06. The business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.12 billion. Pentair had a return on equity of 21.62% and a net margin of 14.86%. The business's quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $1.22 earnings per share. Analysts expect that Pentair will post 4.77 EPS for the current fiscal year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a $0.25 dividend. 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 payout ratio is 25.84%.

Insider Buying and Selling at Pentair

In related news, Director David A. /Wi Jones sold 6,558 shares of Pentair stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $89.94, for a total value of $589,826.52. Following the completion of the sale, the director directly owned 26,313 shares in the company, valued at $2,366,591.22. This trade represents a 19.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Pentair

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Pentair by 0.5% during the 2nd 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 acquiring an additional 108 shares during the period. Horizon Investments LLC lifted its holdings in shares of Pentair by 4.8% during the first quarter. Horizon Investments LLC now owns 2,372 shares of the industrial products company's stock worth $207,000 after purchasing an additional 109 shares during the period. Brooklyn Investment Group lifted its stake in Pentair by 14.8% during the 1st quarter. Brooklyn Investment Group now owns 847 shares of the industrial products company's stock valued at $74,000 after acquiring an additional 109 shares during the period. Strategic Blueprint LLC lifted its stake 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 acquiring an additional 123 shares during the period. Finally, Signaturefd LLC lifted its position in Pentair by 11.5% during the second quarter. Signaturefd LLC now owns 1,245 shares of the industrial products company's stock valued at $128,000 after purchasing an additional 128 shares during the period. 92.37% of the stock is currently 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.