Morgan Stanley Boosts Pentair (NYSE:PNR) Price Target to $40.00

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Pentair (NYSE:PNR) had its price target increased by Morgan Stanley from $39.00 to $40.00 in a report issued on Wednesday, Stock Target Advisor reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

A number of other equities analysts have also commented on PNR. Zacks Investment Research raised Green Brick Partners from a sell rating to a hold rating in a research note on Wednesday, April 10th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. BMO Capital Markets dropped their price target on Pentair to $39.00 and set a market perform rating for the company in a research note on Thursday, April 18th. Finally, Cowen set a $75.00 price objective on Baxter International and gave the company a hold rating in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $44.67.

Shares of Pentair stock opened at $37.96 on Wednesday. The company’s 50 day moving average price is $36.47. Pentair has a 12 month low of $34.72 and a 12 month high of $45.99. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 2.71 and a beta of 1.20. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.18 and a current ratio of 1.77.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. Pentair had a return on equity of 21.45% and a net margin of 10.13%. The company had revenue of $689.90 million during the quarter, compared to analyst estimates of $795.82 million. During the same period in the prior year, the company earned $0.49 earnings per share. The firm’s revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts predict that Pentair will post 2.31 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, July 18th. Pentair’s payout ratio is 30.64%.

Several large investors have recently bought and sold shares of PNR. LPL Financial LLC lifted its stake in shares of Pentair by 16.4% in the 4th quarter. LPL Financial LLC now owns 20,673 shares of the industrial products company’s stock valued at $781,000 after purchasing an additional 2,920 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Pentair by 10.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,962,850 shares of the industrial products company’s stock valued at $74,156,000 after purchasing an additional 187,946 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of Pentair by 29.4% in the 4th quarter. Advisor Group Inc. now owns 19,843 shares of the industrial products company’s stock valued at $749,000 after purchasing an additional 4,504 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Pentair in the 4th quarter valued at approximately $207,000. Finally, Commonwealth Bank of Australia raised its holdings in shares of Pentair by 32.5% in the fourth quarter. Commonwealth Bank of Australia now owns 33,484 shares of the industrial products company’s stock worth $1,258,000 after buying an additional 8,204 shares during the period. 84.03% of the stock is owned by institutional investors and hedge funds.

About Pentair

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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