Mizuho Cuts Pentair (NYSE:PNR) Price Target to $85.00

Pentair (NYSE:PNR) had its price objective reduced by Mizuho from $100.00 to $85.00 in a report published on Tuesday morning, MarketBeat.com reports. Mizuho currently has an outperform rating on the industrial products company’s stock.

PNR has been the subject of a number of other reports. The Goldman Sachs Group cut their price objective on Pentair from $91.00 to $72.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. Barclays lowered their price target on shares of Pentair from $95.00 to $92.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Citigroup dropped their price target on shares of Pentair from $112.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Stifel Nicolaus reissued a “hold” rating and issued a $65.00 price objective (down from $103.00) on shares of Pentair in a research note on Thursday, July 16th. Finally, Weiss Ratings downgraded shares of Pentair from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $91.40.

Pentair Trading Down 1.5%

NYSE:PNR opened at $62.10 on Tuesday. Pentair has a one year low of $57.60 and a one year high of $113.95. The business has a fifty day moving average price of $72.55 and a 200-day moving average price of $86.37. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03. 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) last released its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.05. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.Pentair’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 earnings per share. Sell-side analysts forecast that Pentair will post 4.8 EPS for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.08 dividend on an annualized basis and a yield of 1.7%. Pentair’s payout ratio is currently 26.47%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its holdings in shares of Pentair by 1,459.8% in the first quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company’s stock worth $110,617,000 after purchasing an additional 1,189,122 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Pentair by 1,690.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 729,663 shares of the industrial products company’s stock valued at $75,987,000 after buying an additional 688,921 shares during the last quarter. Amundi grew its holdings in Pentair by 13.1% during the 1st quarter. Amundi now owns 4,237,659 shares of the industrial products company’s stock valued at $369,208,000 after buying an additional 491,758 shares in the last quarter. AQR Capital Management LLC grew its holdings in Pentair by 43.0% during the 3rd quarter. AQR Capital Management LLC now owns 1,472,500 shares of the industrial products company’s stock valued at $161,754,000 after buying an additional 442,534 shares in the last quarter. Finally, Morgan Stanley increased its stake in Pentair by 21.7% in the 4th quarter. Morgan Stanley now owns 2,474,549 shares of the industrial products company’s stock worth $257,700,000 after acquiring an additional 441,878 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors.

About Pentair

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.