Pentair (NYSE:PNR) Price Target Increased to $81.00 by Analysts at Citigroup

Pentair (NYSE:PNR) had its price target increased by investment analysts at Citigroup from $78.00 to $81.00 in a research report issued on Friday, The Fly reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective would suggest a potential upside of 20.37% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised Pentair from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Tuesday, April 27th. Barclays upped their price target on Pentair from $55.00 to $57.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on Pentair from $73.00 to $78.00 in a research note on Friday, April 23rd. Finally, Morgan Stanley cut Pentair from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $69.00 to $63.00 in a research note on Friday, June 4th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $59.07.

NYSE:PNR opened at $67.29 on Friday. Pentair has a twelve month low of $35.61 and a twelve month high of $70.76. The company has a current ratio of 1.47, a quick ratio of 0.95 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average price is $66.15. The firm has a market cap of $11.18 billion, a P/E ratio of 27.24, a P/E/G ratio of 1.99 and a beta of 1.18.

Pentair (NYSE:PNR) last released its quarterly earnings results on Thursday, April 22nd. The industrial products company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.20. Pentair had a return on equity of 22.54% and a net margin of 13.06%. The firm had revenue of $865.90 million during the quarter, compared to the consensus estimate of $773.01 million. During the same quarter in the prior year, the firm posted $0.52 EPS. The business’s revenue was up 22.0% on a year-over-year basis. As a group, research analysts forecast that Pentair will post 3.01 EPS for the current year.

In other Pentair news, EVP John H. Jacko sold 30,979 shares of the company’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $69.51, for a total value of $2,153,350.29. Following the transaction, the executive vice president now directly owns 10,790 shares of the company’s stock, valued at approximately $750,012.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.96% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PNR. Norges Bank acquired a new position in Pentair in the 4th quarter valued at $99,205,000. Nordea Investment Management AB grew its holdings in Pentair by 29.6% in the 4th quarter. Nordea Investment Management AB now owns 3,336,303 shares of the industrial products company’s stock valued at $177,124,000 after buying an additional 761,328 shares in the last quarter. Credit Suisse AG grew its holdings in Pentair by 62.8% in the 1st quarter. Credit Suisse AG now owns 1,921,499 shares of the industrial products company’s stock valued at $119,749,000 after buying an additional 741,309 shares in the last quarter. Ninety One UK Ltd grew its holdings in Pentair by 26.5% in the 4th quarter. Ninety One UK Ltd now owns 2,656,132 shares of the industrial products company’s stock valued at $141,014,000 after buying an additional 556,527 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Pentair by 121.3% during the 1st quarter. Alliancebernstein L.P. now owns 730,962 shares of the industrial products company’s stock worth $45,554,000 after purchasing an additional 400,626 shares in the last quarter. 81.51% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Company Profile

Pentair plc provides various smart water solutions worldwide. It operates through two segments, Consumer Solutions; and Industrial & Flow Technologies. The Consumer Solutions segment designs, 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, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.

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