Pentair (NYSE:PNR) Price Target Cut to $119.00 by Analysts at Citigroup

Pentair (NYSE:PNR - Free Report) had its price objective cut by Citigroup from $126.00 to $119.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the industrial products company's stock.

A number of other analysts have also recently weighed in on PNR. TD Cowen raised their price objective on shares of Pentair from $95.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Wolfe Research initiated coverage on Pentair in a research report on Tuesday, November 26th. They set an "outperform" rating and a $125.00 price target on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $115.00 price target on shares of Pentair in a research report on Thursday, November 21st. JPMorgan Chase & Co. raised their price objective on shares of Pentair from $106.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Finally, Mizuho increased their target price on shares of Pentair from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $111.13.

Pentair Trading Up 1.8 %

Shares of PNR traded up $1.75 during trading on Monday, reaching $98.72. 1,073,257 shares of the company traded hands, compared to its average volume of 996,637. Pentair has a twelve month low of $69.42 and a twelve month high of $110.71. The company has a quick ratio of 0.91, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The stock has a 50-day simple moving average of $104.38 and a 200-day simple moving average of $94.09. The stock has a market cap of $16.31 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 1.91 and a beta of 1.21.

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

Pentair Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pentair's previous quarterly dividend of $0.23. Pentair's payout ratio is 25.00%.

Insider Activity

In related news, EVP Philip M. Rolchigo sold 3,588 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the sale, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. This represents a 15.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PNR. Quarry LP raised its holdings in shares of Pentair by 105.5% during the third quarter. Quarry LP now owns 261 shares of the industrial products company's stock worth $26,000 after acquiring an additional 134 shares in the last quarter. Eastern Bank increased its position in Pentair by 144.9% in the 4th quarter. Eastern Bank now owns 507 shares of the industrial products company's stock worth $51,000 after purchasing an additional 300 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company's stock worth $51,000 after purchasing an additional 327 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of Pentair during the 4th quarter valued at about $56,000. Finally, True Wealth Design LLC grew its stake in shares of Pentair by 4,450.0% in the 3rd quarter. True Wealth Design LLC now owns 637 shares of the industrial products company's stock valued at $62,000 after buying an additional 623 shares in the last quarter. Institutional investors and hedge funds 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.