Pentair (NYSE:PNR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $77.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.22% from the stock’s current price.
According to Zacks, “Pentair expects its top-line to benefit in 2018 from carryover on cost-out initiatives. The company is poised to grow on its focus on reorganization activities. It remains on track to separate Water and Electrical businesses into two publicly-traded companies. The separation is expected to occur through a tax-free spin-off of Electrical segment in second-quarter 2018. Both companies are well positioned for long-term growth and value creation. Further, Pentair continues to see strength in residential and commercial and especially in foodservice in its Filtration & Process business. The company has a positive record of earnings surprises in recent quarters. “
Several other research firms have also issued reports on PNR. Seaport Global Securities reissued a “buy” rating on shares of Pentair in a report on Wednesday, October 25th. BMO Capital Markets increased their target price on Pentair from $78.00 to $79.00 and gave the company a “market perform” rating in a research report on Wednesday, October 25th. Robert W. Baird increased their target price on Pentair from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Stifel Nicolaus reiterated a “hold” rating and set a $76.00 target price (up from $75.00) on shares of Pentair in a research report on Wednesday, October 25th. Finally, KeyCorp reiterated a “buy” rating and set a $77.00 target price on shares of Pentair in a research report on Thursday, October 12th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Pentair has a consensus rating of “Hold” and a consensus price target of $70.67.
Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.02. Pentair had a net margin of 12.50% and a return on equity of 13.39%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. sell-side analysts expect that Pentair will post 3.53 earnings per share for the current fiscal year.
In other news, insider Karl R. Frykman sold 11,386 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $70.24, for a total value of $799,752.64. Following the transaction, the insider now owns 36,476 shares of the company’s stock, valued at approximately $2,562,074.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Karl R. Frykman sold 7,385 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $70.00, for a total value of $516,950.00. Following the completion of the transaction, the insider now directly owns 40,775 shares in the company, valued at approximately $2,854,250. The disclosure for this sale can be found here. Insiders have sold 217,632 shares of company stock worth $14,783,286 in the last three months. 9.90% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss National Bank lifted its stake in Pentair by 2.8% during the 2nd quarter. Swiss National Bank now owns 629,157 shares of the industrial products company’s stock worth $41,864,000 after acquiring an additional 17,400 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Pentair by 4.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 45,892 shares of the industrial products company’s stock worth $3,119,000 after acquiring an additional 2,047 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Pentair by 11.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 323,672 shares of the industrial products company’s stock worth $21,997,000 after acquiring an additional 31,990 shares in the last quarter. Trian Fund Management L.P. lifted its stake in Pentair by 6.0% during the 2nd quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock worth $1,011,470,000 after acquiring an additional 862,769 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in Pentair by 8.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 611,177 shares of the industrial products company’s stock worth $40,668,000 after purchasing an additional 46,856 shares during the period. 84.56% of the stock is currently owned by hedge funds and other institutional investors.
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Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.
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