Pentair (NYSE:PNR) Given "Buy" Rating at Citigroup

Citigroup reiterated their buy rating on shares of Pentair (NYSE:PNR - Free Report) in a report released on Monday, Marketbeat Ratings reports. Citigroup currently has a $125.00 price objective on the industrial products company's stock, up from their prior price objective of $99.00.

A number of other equities analysts also recently issued reports on PNR. Mizuho set a $100.00 price objective on Pentair in a research report on Tuesday, April 22nd. The Goldman Sachs Group set a $95.00 price objective on Pentair and gave the stock a "neutral" rating in a research report on Tuesday, April 22nd. UBS Group lowered their price objective on Pentair from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upgraded Pentair from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $90.00 to $113.00 in a research report on Friday, May 16th. Finally, Barclays raised their price objective on Pentair from $111.00 to $116.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Pentair has an average rating of "Buy" and an average target price of $109.43.

Pentair Price Performance

NYSE:PNR traded up $1.84 during trading hours on Monday, hitting $106.71. The company's stock had a trading volume of 1,436,042 shares, compared to its average volume of 1,453,816. The stock has a fifty day simple moving average of $100.54 and a 200-day simple moving average of $95.26. The company has a market capitalization of $17.56 billion, a P/E ratio of 27.57, a PEG ratio of 2.02 and a beta of 1.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.89 and a quick ratio of 1.22. Pentair has a twelve month low of $74.25 and a twelve month high of $110.71.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.10. Pentair had a return on equity of 21.24% and a net margin of 15.87%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $988.38 million. During the same period last year, the firm posted $0.94 earnings per share. On average, analysts anticipate that Pentair will post 4.77 EPS for the current fiscal 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 annualized dividend and a dividend yield of 0.94%. Pentair's payout ratio is 25.84%.

Insider Activity

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 stock was sold at an average price of $89.94, for a total transaction of $589,826.52. Following the transaction, the director owned 26,313 shares of the company's stock, valued at $2,366,591.22. The trade was a 19.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PNR. Proficio Capital Partners LLC purchased a new position in Pentair in the fourth quarter worth $55,000. Raymond James Financial Inc. purchased a new position in Pentair in the fourth quarter worth $14,989,000. Wealthfront Advisers LLC boosted its position in Pentair by 15.1% in the fourth quarter. Wealthfront Advisers LLC now owns 2,580 shares of the industrial products company's stock worth $260,000 after purchasing an additional 338 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Pentair by 11.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,194 shares of the industrial products company's stock worth $120,000 after purchasing an additional 118 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in Pentair by 9.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,950 shares of the industrial products company's stock worth $498,000 after purchasing an additional 440 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.