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

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

Other research analysts also recently issued research reports about the company. BMO Capital Markets cut their target price on Pentair to $39.00 and set a market perform rating for the company in a research note on Thursday, April 18th. Cowen set a $75.00 price target on Baxter International and gave the company a hold rating in a research report on Monday, April 22nd. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded Green Brick Partners from a sell rating to a hold rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $44.67.

Shares of NYSE PNR opened at $37.96 on Wednesday. Pentair has a 52 week low of $34.72 and a 52 week high of $45.99. The business has a 50-day moving average of $36.47. The company has a current ratio of 1.77, a quick ratio of 1.18 and a debt-to-equity ratio of 0.73. The company has a market cap of $6.37 billion, a P/E ratio of 16.15, a P/E/G ratio of 2.71 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its earnings results on Wednesday, April 17th. The industrial products company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. Pentair had a return on equity of 21.45% and a net margin of 10.13%. The business had revenue of $689.90 million during the quarter, compared to the consensus estimate of $795.82 million. During the same quarter last year, the company earned $0.49 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. On average, equities research analysts predict that Pentair will post 2.31 EPS for the current fiscal year.

The firm also recently declared 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 dividend payout ratio is currently 30.64%.

Hedge funds have recently bought and sold shares of the company. Horan Capital Advisors LLC. purchased a new position in shares of Pentair in the first quarter worth $31,000. CSat Investment Advisory L.P. increased its position in Pentair by 47.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 1,017 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 329 shares during the last quarter. Twin Tree Management LP purchased a new stake in Pentair during the first quarter valued at $49,000. Icon Wealth Partners LLC purchased a new stake in Pentair during the first quarter valued at $100,000. Finally, Mercer Capital Advisers Inc. increased its position in Pentair by 21.1% during the first quarter. Mercer Capital Advisers Inc. now owns 2,300 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 84.03% of the company’s stock.

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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Analyst Recommendations for Pentair (NYSE:PNR)

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