Pentair plc (NYSE:PNR) Receives Average Rating of “Hold” from Brokerages

Shares of Pentair plc (NYSE:PNR) have earned a consensus recommendation of “Hold” from the fifteen analysts that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $107.8571.

A number of brokerages have commented on PNR. Barclays decreased their price target on shares of Pentair from $95.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. TD Cowen decreased their price target on shares of Pentair from $90.00 to $75.00 and set a “sell” rating for the company in a research note on Wednesday, April 29th. Stifel Nicolaus cut their price objective on shares of Pentair from $110.00 to $103.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Citigroup cut their price objective on shares of Pentair from $112.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Finally, Weiss Ratings downgraded shares of Pentair from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th.

Pentair Stock Performance

Shares of PNR stock opened at $72.01 on Wednesday. The firm has a market capitalization of $11.64 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.24 and a beta of 1.10. The firm has a fifty day simple moving average of $85.42 and a two-hundred day simple moving average of $97.20. The company has a current ratio of 1.88, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51. Pentair has a 12 month low of $71.62 and a 12 month high of $113.95.

Pentair (NYSE:PNR) last announced its quarterly 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 net margin of 15.98% and a return on equity of 21.92%. Pentair’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.11 EPS. Analysts forecast that Pentair will post 5.36 EPS for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, July 24th. Pentair’s payout ratio is currently 26.47%.

Insider Transactions at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 6,493 shares of Pentair stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $103.22, for a total transaction of $670,207.46. Following the transaction, the executive vice president directly owned 29,096 shares of the company’s stock, valued at $3,003,289.12. The trade was a 18.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pentair

A number of hedge funds have recently bought and sold shares of PNR. Nordea Investment Management AB boosted its holdings in Pentair by 173.6% during the 3rd quarter. Nordea Investment Management AB now owns 2,837,753 shares of the industrial products company’s stock worth $311,046,000 after acquiring an additional 1,800,669 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Pentair by 106.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,236,826 shares of the industrial products company’s stock worth $358,521,000 after acquiring an additional 1,670,944 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Pentair by 1,459.8% during the 1st quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company’s stock worth $110,617,000 after acquiring an additional 1,189,122 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Pentair by 1,690.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 729,663 shares of the industrial products company’s stock worth $75,987,000 after buying an additional 688,921 shares during the last quarter. Finally, 140 Summer Partners LP purchased a new position in shares of Pentair in the 3rd quarter worth about $60,752,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

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.