Pentair PLC (NYSE:PNR)’s share price hit a new 52-week high on Thursday . The company traded as high as $47.16 and last traded at $46.75, with a volume of 106374 shares. The stock had previously closed at $45.84.
A number of analysts have recently weighed in on PNR shares. Goldman Sachs Group upgraded shares of Pentair from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $42.00 to $54.00 in a research note on Wednesday. Cowen boosted their target price on shares of Pentair from $45.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Jefferies Financial Group assumed coverage on shares of Pentair in a report on Friday, September 20th. They issued a “hold” rating on the stock. UBS Group assumed coverage on shares of Pentair in a research note on Wednesday, December 11th. They issued a “hold” rating and a $42.00 target price on the stock. Finally, Morgan Stanley set a $43.00 target price on shares of Pentair and gave the company a “hold” rating in a research note on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $46.44.
The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 1.44. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 3.14 and a beta of 1.23. The business’s 50-day simple moving average is $45.36 and its 200-day simple moving average is $40.17.
Pentair (NYSE:PNR) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. Pentair had a net margin of 11.92% and a return on equity of 21.35%. The company had revenue of $713.60 million for the quarter, compared to the consensus estimate of $719.07 million. During the same period in the prior year, the company posted $0.54 EPS. The company’s revenue was up .3% compared to the same quarter last year. On average, analysts forecast that Pentair PLC will post 2.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This is an increase from Pentair’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 1.62%. Pentair’s dividend payout ratio is presently 30.64%.
In other Pentair news, Director T Michael Glenn sold 6,116 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $44.23, for a total transaction of $270,510.68. Following the transaction, the director now directly owns 24,702 shares in the company, valued at approximately $1,092,569.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 18,348 shares of company stock worth $791,043. Corporate insiders own 0.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC raised its stake in Pentair by 7.8% during the second quarter. Parametric Portfolio Associates LLC now owns 559,531 shares of the industrial products company’s stock valued at $20,815,000 after buying an additional 40,515 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Pentair by 8.5% in the 2nd quarter. APG Asset Management N.V. now owns 35,807 shares of the industrial products company’s stock worth $1,170,000 after purchasing an additional 2,800 shares in the last quarter. United Capital Financial Advisers LLC increased its holdings in shares of Pentair by 27.6% in the 2nd quarter. United Capital Financial Advisers LLC now owns 8,265 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 1,788 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Pentair by 12.3% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 92,214 shares of the industrial products company’s stock worth $3,430,000 after purchasing an additional 10,136 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Pentair by 19.2% in the 2nd quarter. BlackRock Inc. now owns 16,039,343 shares of the industrial products company’s stock worth $596,665,000 after purchasing an additional 2,582,896 shares in the last quarter. 84.54% of the stock is owned by institutional investors.
About Pentair (NYSE:PNR)
Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment manufactures and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, pool repair, renovation, service and construction, and aquaculture solution applications.
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