Pentair (NYSE:PNR) Raised to “Overweight” at JPMorgan Chase & Co.

Pentair (NYSE:PNR) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Friday, MarketBeat Ratings reports. The brokerage currently has a $113.00 price target on the industrial products company’s stock, up from their previous price target of $90.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 11.75% from the company’s previous close.

Several other brokerages also recently issued reports on PNR. Stifel Nicolaus reduced their price objective on Pentair from $125.00 to $102.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Northcoast Research raised Pentair from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Citigroup dropped their target price on Pentair from $118.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, April 14th. UBS Group dropped their target price on Pentair from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada upped their price target on Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $107.14.

Pentair Stock Up 3.4%

Shares of Pentair stock opened at $101.12 on Friday. The business has a 50-day moving average of $87.57 and a 200-day moving average of $96.43. 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 company has a market capitalization of $16.64 billion, a PE ratio of 27.04, a P/E/G ratio of 1.87 and a beta of 1.11. Pentair has a 1-year low of $72.63 and a 1-year high of $110.71.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $988.38 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. During the same period last year, the firm earned $0.94 earnings per share. As a group, equities analysts forecast that Pentair will post 4.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Pentair news, Director David A. /Wi Jones sold 6,558 shares of Pentair stock in a transaction on Monday, April 28th. The stock was sold at an average price of $89.94, for a total value of $589,826.52. Following the completion of the transaction, the director now owns 26,313 shares in the company, valued at approximately $2,366,591.22. The trade was a 19.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PNR. Independent Advisor Alliance lifted its holdings in Pentair by 1.4% during the 4th quarter. Independent Advisor Alliance now owns 7,628 shares of the industrial products company’s stock worth $768,000 after buying an additional 103 shares in the last quarter. Horizon Investments LLC increased its position in Pentair by 4.8% in the first quarter. Horizon Investments LLC now owns 2,372 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 109 shares during the period. Brooklyn Investment Group increased its position in Pentair by 14.8% in the first quarter. Brooklyn Investment Group now owns 847 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 109 shares during the period. Farther Finance Advisors LLC lifted its position in Pentair by 11.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,194 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 118 shares during the period. Finally, Strategic Blueprint LLC boosted its stake in shares of Pentair by 2.3% in the 1st quarter. Strategic Blueprint LLC now owns 5,521 shares of the industrial products company’s stock valued at $483,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds 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.