Royal Bank of Canada Boosts Pentair (NYSE:PNR) Price Target to $103.00

Pentair (NYSE:PNR) had its price target raised by Royal Bank of Canada from $101.00 to $103.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

PNR has been the subject of several other research reports. Citigroup increased their price target on shares of Pentair from $85.00 to $101.00 and gave the company a buy rating in a research report on Monday, April 8th. Stifel Nicolaus increased their price target on shares of Pentair from $88.00 to $94.00 and gave the company a buy rating in a research report on Thursday, March 7th. KeyCorp increased their price target on shares of Pentair from $82.00 to $92.00 and gave the company an overweight rating in a research report on Thursday, March 7th. Bank of America upgraded shares of Pentair from an underperform rating to a neutral rating and increased their target price for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. Finally, The Goldman Sachs Group reiterated a neutral rating and set a $91.00 target price on shares of Pentair in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Pentair presently has a consensus rating of Moderate Buy and a consensus price target of $89.93.

Pentair Stock Performance

Shares of PNR stock opened at $79.96 on Wednesday. The firm has a 50-day moving average of $80.35 and a 200-day moving average of $71.89. The company has a market cap of $13.28 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.50 and a beta of 1.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 0.94. Pentair has a one year low of $53.88 and a one year high of $85.81.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 earnings per share. Equities research analysts forecast that Pentair will post 4.21 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. Pentair’s dividend payout ratio (DPR) is currently 24.47%.

Hedge Funds Weigh In On Pentair

A number of large investors have recently modified their holdings of the company. New York State Teachers Retirement System raised its stake in Pentair by 6.0% in the first quarter. New York State Teachers Retirement System now owns 163,836 shares of the industrial products company’s stock valued at $13,998,000 after purchasing an additional 9,207 shares in the last quarter. Oak Family Advisors LLC raised its stake in Pentair by 1.6% in the first quarter. Oak Family Advisors LLC now owns 11,013 shares of the industrial products company’s stock valued at $941,000 after purchasing an additional 169 shares in the last quarter. Adams Diversified Equity Fund Inc. purchased a new stake in Pentair in the first quarter valued at approximately $23,317,000. Rational Advisors LLC raised its stake in Pentair by 200.0% in the first quarter. Rational Advisors LLC now owns 633 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 422 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Pentair by 8.8% in the first quarter. Fifth Third Bancorp now owns 3,356 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 271 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.

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.