Zacks Investment Research upgraded shares of Pentair PLC. (NYSE:PNR) from a hold rating to a buy rating in a report issued on Friday. They currently have $80.00 price objective on the industrial products company’s stock.
According to Zacks, “Pentair’s third-quarter 2017 earnings surged around 22%, while sales inched up 1%, both on a year-over-year basis. Earnings beat the Zacks Consensus Estimate, while sales came in line with the Consensus mark. The company raised its full-year 2017 adjusted EPS guidance to $3.53 and reaffirmed the revenue guidance of $4.9 billion. The company also expects its adjusted core sales to grow approximately 2%. It also guided fourth-quarter 2017 adjusted EPS of 93 cents, up around 19% year over year. The company is poised to grow on its focus on reorganization activities, which includes the spin-off its Electrical business. Further, the company will gain from strong performance of the Filtration & Process business.”
A number of other research firms also recently weighed in on PNR. BidaskClub downgraded shares of Pentair PLC. from a hold rating to a sell rating in a research report on Thursday, July 27th. KeyCorp reaffirmed a buy rating and issued a $77.00 target price on shares of Pentair PLC. in a research report on Thursday, October 12th. Stifel Nicolaus reaffirmed a hold rating and issued a $76.00 target price (up previously from $75.00) on shares of Pentair PLC. in a research report on Wednesday, October 25th. Robert W. Baird raised their target price on shares of Pentair PLC. from $70.00 to $74.00 and gave the company a neutral rating in a research report on Wednesday, October 25th. Finally, Morgan Stanley reaffirmed an equal weight rating and issued a $74.00 target price (up previously from $70.00) on shares of Pentair PLC. in a research report on Monday, October 2nd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $70.00.
Pentair PLC. (NYSE:PNR) opened at 70.10 on Friday. The stock’s 50 day moving average is $68.52 and its 200 day moving average is $65.51. Pentair PLC. has a 12-month low of $53.80 and a 12-month high of $71.65. The stock has a market capitalization of $12.72 billion, a PE ratio of 20.64 and a beta of 1.41.
Pentair PLC. (NYSE:PNR) last released its earnings results on Tuesday, October 24th. The industrial products company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Pentair PLC. had a net margin of 12.50% and a return on equity of 13.39%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. Analysts forecast that Pentair PLC. will post $3.53 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Friday, October 20th will be paid a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, October 19th. Pentair PLC.’s dividend payout ratio is currently 41.82%.
In other Pentair PLC. news, Director Ronald Merriman sold 5,200 shares of the stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $67.00, for a total value of $348,400.00. Following the completion of the sale, the director now owns 21,538 shares in the company, valued at $1,443,046. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of PNR. Huntington National Bank lifted its stake in shares of Pentair PLC. by 126.8% during the 2nd quarter. Huntington National Bank now owns 1,508 shares of the industrial products company’s stock worth $100,000 after buying an additional 843 shares during the last quarter. Korea Investment CORP lifted its stake in shares of Pentair PLC. by 142.7% during the 2nd quarter. Korea Investment CORP now owns 1,602 shares of the industrial products company’s stock worth $107,000 after buying an additional 942 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its stake in shares of Pentair PLC. by 6.5% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,829 shares of the industrial products company’s stock worth $123,000 after buying an additional 111 shares during the last quarter. FNY Partners Fund LP acquired a new stake in shares of Pentair PLC. during the 1st quarter worth about $125,000. Finally, Krilogy Financial LLC lifted its stake in shares of Pentair PLC. by 121.2% during the 2nd quarter. Krilogy Financial LLC now owns 2,281 shares of the industrial products company’s stock worth $152,000 after buying an additional 1,250 shares during the last quarter. Institutional investors own 85.70% of the company’s stock.
Pentair PLC. Company Profile
Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.
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