Pentair (NYSE:PNR) Price Target Increased to $92.00 by Analysts at Oppenheimer

Pentair (NYSE:PNR - Free Report) had its price objective hoisted by Oppenheimer from $90.00 to $92.00 in a report issued on Tuesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company's stock.

PNR has been the subject of a number of other reports. Royal Bank of Canada lowered their target price on shares of Pentair from $103.00 to $99.00 and set an outperform rating for the company in a research note on Tuesday, June 25th. TD Cowen lifted their target price on shares of Pentair from $80.00 to $85.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Citigroup lifted their target price on shares of Pentair from $85.00 to $101.00 and gave the stock a buy rating in a research note on Monday, April 8th. Northcoast Research raised shares of Pentair from a neutral rating to a buy rating and set a $100.00 price target for the company in a research report on Monday, April 15th. Finally, The Goldman Sachs Group reissued a neutral rating and set a $91.00 price target on shares of Pentair in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $90.86.

Pentair Stock Up 4.0 %

Shares of NYSE:PNR traded up $3.23 during trading on Tuesday, reaching $83.28. The stock had a trading volume of 1,762,086 shares, compared to its average volume of 1,587,990. Pentair has a one year low of $57.18 and a one year high of $85.84. The company has a market capitalization of $13.83 billion, a P/E ratio of 22.15, a PEG ratio of 1.38 and a beta of 1.21. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm's 50-day simple moving average is $79.48 and its 200 day simple moving average is $78.06.

Pentair (NYSE:PNR - Get Free Report) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. Pentair's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. As a group, research analysts expect that Pentair will post 4.22 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, July 19th. Pentair's dividend payout ratio (DPR) is 24.47%.

Insider Activity

In related news, CEO Jerome O. Pedretti sold 24,747 shares of Pentair stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total value of $2,089,884.15. Following the sale, the chief executive officer now owns 38,538 shares of the company's stock, valued at approximately $3,254,534.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Pentair

A number of institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC grew its stake in Pentair by 1.8% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 8,674 shares of the industrial products company's stock valued at $665,000 after acquiring an additional 153 shares during the period. ORG Partners LLC acquired a new position in shares of Pentair during the 2nd quarter valued at about $631,000. Wedmont Private Capital raised its holdings in Pentair by 3.9% in the 2nd quarter. Wedmont Private Capital now owns 3,403 shares of the industrial products company's stock valued at $270,000 after buying an additional 128 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Pentair by 8.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,755 shares of the industrial products company's stock valued at $211,000 after buying an additional 204 shares during the period. Finally, Czech National Bank increased its stake in Pentair by 8.7% during the second quarter. Czech National Bank now owns 31,637 shares of the industrial products company's stock worth $2,426,000 after purchasing an additional 2,543 shares during the period. 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.