Wolfe Research Initiates Coverage on Pentair (NYSE:PNR)

Wolfe Research began coverage on shares of Pentair (NYSE:PNR - Get Free Report) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm set an "outperform" rating and a $125.00 price target on the industrial products company's stock. Wolfe Research's price target would suggest a potential upside of 14.61% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada reiterated an "outperform" rating and set a $115.00 price objective on shares of Pentair in a report on Thursday, November 21st. KeyCorp increased their price objective on shares of Pentair from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Barclays boosted their price objective on shares of Pentair from $105.00 to $108.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on Pentair from $101.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Finally, Mizuho boosted their price target on Pentair from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $106.38.

Pentair Trading Up 1.0 %

Shares of PNR traded up $1.13 on Tuesday, reaching $109.07. 703,338 shares of the company's stock were exchanged, compared to its average volume of 1,542,754. The business has a 50 day moving average price of $99.68 and a two-hundred day moving average price of $88.39. Pentair has a 12 month low of $62.81 and a 12 month high of $109.31. The stock has a market capitalization of $18.02 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

Pentair (NYSE:PNR - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. Research analysts anticipate that Pentair will post 4.28 earnings per share for the current year.

Insider Buying and Selling at Pentair

In other news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the transaction, the executive vice president now directly owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.28% of the company's stock.

Institutional Investors Weigh In On Pentair

Several hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC increased its stake in shares of Pentair by 35.1% during the third quarter. Tidal Investments LLC now owns 14,430 shares of the industrial products company's stock worth $1,411,000 after purchasing an additional 3,752 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Pentair during the third quarter worth approximately $117,000. World Investment Advisors LLC acquired a new stake in shares of Pentair in the third quarter valued at approximately $302,000. Sanctuary Advisors LLC raised its holdings in Pentair by 101.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 11,933 shares of the industrial products company's stock valued at $1,276,000 after acquiring an additional 6,024 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in shares of Pentair by 13.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,652 shares of the industrial products company's stock valued at $361,000 after acquiring an additional 433 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.