Oppenheimer Boosts Pentair (NYSE:PNR) Price Target to $90.00

Pentair (NYSE:PNR) had its price objective raised by Oppenheimer from $88.00 to $90.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Several other research firms have also weighed in on PNR. UBS Group increased their price target on Pentair from $72.00 to $83.00 and gave the company a buy rating in a report on Wednesday, January 10th. Citigroup increased their target price on Pentair from $85.00 to $101.00 and gave the stock a buy rating in a research note on Monday, April 8th. Barclays increased their target price on Pentair from $90.00 to $92.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. StockNews.com lowered Pentair from a buy rating to a hold rating in a research note on Friday, February 2nd. Finally, BNP Paribas assumed coverage on Pentair in a research note on Tuesday, March 12th. They issued a neutral rating and a $86.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Pentair presently has a consensus rating of Moderate Buy and a consensus price target of $89.93.

Pentair Stock Performance

NYSE:PNR opened at $79.96 on Wednesday. The stock’s fifty day moving average is $80.35 and its 200 day moving average is $71.89. Pentair has a fifty-two week low of $53.88 and a fifty-two week high of $85.81. The firm has a market capitalization of $13.28 billion, a PE ratio of 21.27, a PEG ratio of 1.50 and a beta of 1.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.94 and a current ratio of 1.90.

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

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a $0.23 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. Pentair’s dividend payout ratio is presently 24.47%.

Institutional Investors Weigh In On Pentair

Several large investors have recently bought and sold shares of PNR. Assetmark Inc. increased its holdings in Pentair by 935.1% during the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 346 shares during the period. Lindbrook Capital LLC boosted its position in shares of Pentair by 82.4% during the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 154 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Pentair by 97.6% during the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 202 shares in the last quarter. Quent Capital LLC boosted its position in shares of Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 213 shares in the last quarter. Finally, Baystate Wealth Management LLC acquired a new position in shares of Pentair during the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

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.