Pentair PLC (NYSE:PNR) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Pentair PLC (NYSE:PNR) have earned a consensus rating of “Buy” from the fifteen analysts that are covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $41.50.
A number of brokerages recently issued reports on PNR. Citigroup lifted their price target on shares of Pentair from $31.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Stifel Nicolaus lifted their price target on shares of Pentair from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Morgan Stanley lifted their price target on shares of Pentair from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Royal Bank of Canada reiterated a “hold” rating and issued a $32.00 price target on shares of Pentair in a research note on Thursday, April 16th. Finally, UBS Group boosted their price objective on shares of Pentair from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th.
Large investors have recently modified their holdings of the company. Pictet Asset Management Ltd. purchased a new stake in Pentair in the 4th quarter valued at $193,986,000. Norges Bank purchased a new stake in Pentair in the 4th quarter valued at $79,705,000. Impax Asset Management Group plc raised its position in Pentair by 22.0% in the 1st quarter. Impax Asset Management Group plc now owns 8,321,542 shares of the industrial products company’s stock valued at $247,073,000 after purchasing an additional 1,499,985 shares during the last quarter. Parnassus Investments CA raised its position in Pentair by 7.0% in the 4th quarter. Parnassus Investments CA now owns 11,733,948 shares of the industrial products company’s stock valued at $538,236,000 after purchasing an additional 763,155 shares during the last quarter. Finally, Ceredex Value Advisors LLC purchased a new stake in Pentair in the 1st quarter valued at $20,049,000. Institutional investors and hedge funds own 86.03% of the company’s stock.
Pentair (NYSE:PNR) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. Pentair had a net margin of 12.66% and a return on equity of 22.25%. The company had revenue of $710.00 million during the quarter, compared to the consensus estimate of $680.04 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Pentair will post 2.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, July 23rd. This represents a $0.76 annualized dividend and a dividend yield of 2.03%. Pentair’s dividend payout ratio is presently 31.93%.
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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