Pentair (NYSE:PNR) Price Target Cut to $98.00 by Analysts at Citigroup

Pentair (NYSE:PNR) had its price objective decreased by Citigroup from $118.00 to $98.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

Several other analysts also recently weighed in on PNR. KeyCorp reissued a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research note on Monday, January 6th. Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Robert W. Baird upgraded Pentair from a “neutral” rating to an “outperform” rating and set a $114.00 price target on the stock in a research report on Tuesday, March 25th. Barclays lowered their price objective on Pentair from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Finally, StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $110.87.

Pentair Price Performance

Shares of NYSE:PNR opened at $82.74 on Monday. The company’s fifty day moving average price is $89.22 and its 200-day moving average price is $97.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.92. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.87 and a beta of 1.13. Pentair has a one year low of $72.63 and a one year high of $110.71.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. Pentair had a return on equity of 20.94% and a net margin of 15.32%. The business had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $970.95 million. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Pentair will post 4.77 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, April 17th. Pentair’s dividend payout ratio (DPR) is 26.74%.

Institutional Investors Weigh In On Pentair

Institutional investors have recently made changes to their positions in the company. Northern Trust Corp grew its holdings in Pentair by 27.9% during the 4th quarter. Northern Trust Corp now owns 1,962,263 shares of the industrial products company’s stock valued at $197,482,000 after purchasing an additional 428,184 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Pentair by 219.0% during the fourth quarter. Teacher Retirement System of Texas now owns 604,758 shares of the industrial products company’s stock valued at $60,863,000 after buying an additional 415,163 shares during the last quarter. FMR LLC raised its holdings in shares of Pentair by 7.0% in the fourth quarter. FMR LLC now owns 6,101,253 shares of the industrial products company’s stock worth $614,030,000 after buying an additional 396,581 shares during the period. Norges Bank purchased a new stake in shares of Pentair in the fourth quarter worth approximately $36,568,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Pentair by 67.4% during the 4th quarter. Allianz Asset Management GmbH now owns 888,212 shares of the industrial products company’s stock worth $89,390,000 after acquiring an additional 357,523 shares during the last quarter. 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.