Zacks Investment Research upgraded shares of Pentair PLC. (NYSE:PNR) from a hold rating to a buy rating in a research note published on Tuesday. Zacks Investment Research currently has $78.00 price objective on the industrial products company’s stock.
According to Zacks, “Pentair’s third-quarter 2017 adjusted EPS guidance range of 91–93 cents represents an 18% year-over-year increase at the mid-point. The company expects free cash flow to continue to improve, in line with historical seasonal patterns. Going forward, its focus on reorganization activities will fuel growth. The company will also gain from strong performance of the Aquatic & Environmental Systems business. Further, Pentair`s exhibition of its proven technology and latest food and beverage processing innovations at drinktec 2017 will aid improvement in orders which in turn will drive sales growth. The company has a positive record of earnings surprises in recent quarters. “
Several other equities research analysts have also recently weighed in on the stock. BMO Capital Markets reaffirmed a hold rating and issued a $70.00 price target on shares of Pentair PLC. in a research report on Wednesday, September 6th. Royal Bank Of Canada reaffirmed a buy rating and issued a $77.00 price target on shares of Pentair PLC. in a research report on Wednesday, July 12th. Morgan Stanley reaffirmed an equal weight rating and issued a $70.00 price target (up previously from $69.00) on shares of Pentair PLC. in a research report on Wednesday, July 26th. Jefferies Group LLC reaffirmed a hold rating and issued a $59.00 price target on shares of Pentair PLC. in a research report on Friday, July 14th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $68.00 price target on shares of Pentair PLC. in a research report on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $68.15.
Shares of Pentair PLC. (NYSE:PNR) traded down 0.09% during mid-day trading on Tuesday, reaching $69.89. 28,083 shares of the company’s stock traded hands. Pentair PLC. has a 12-month low of $53.80 and a 12-month high of $70.51. The stock has a 50-day moving average price of $65.10 and a 200 day moving average price of $64.71. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of 20.57 and a beta of 1.41.
Pentair PLC. (NYSE:PNR) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.00. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 EPS. Analysts anticipate that Pentair PLC. will post $3.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Friday, October 20th will be given a dividend of $0.345 per share. The ex-dividend date is Thursday, October 19th. This represents a $1.38 dividend on an annualized basis and a yield of 1.97%. Pentair PLC.’s payout ratio is 40.71%.
In related news, Director Ronald Merriman sold 5,200 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $67.00, for a total transaction of $348,400.00. Following the completion of the sale, the director now owns 21,538 shares of the company’s stock, valued at $1,443,046. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.90% of the company’s stock.
A number of large investors have recently bought and sold shares of PNR. BlackRock Inc. lifted its position in Pentair PLC. by 1,577.2% during the first quarter. BlackRock Inc. now owns 11,564,179 shares of the industrial products company’s stock valued at $726,001,000 after acquiring an additional 10,874,699 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Pentair PLC. by 193.2% during the second quarter. Lord Abbett & CO. LLC now owns 1,327,823 shares of the industrial products company’s stock valued at $88,353,000 after acquiring an additional 875,023 shares during the last quarter. Trian Fund Management L.P. lifted its position in Pentair PLC. by 6.0% during the second quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock valued at $1,011,470,000 after acquiring an additional 862,769 shares during the last quarter. Clearbridge Investments LLC lifted its position in Pentair PLC. by 16.1% during the first quarter. Clearbridge Investments LLC now owns 6,133,909 shares of the industrial products company’s stock valued at $385,087,000 after acquiring an additional 850,370 shares during the last quarter. Finally, Westwood Holdings Group Inc. purchased a new stake in Pentair PLC. during the first quarter valued at approximately $45,224,000. 85.52% of the stock is owned by institutional investors.
About Pentair PLC.
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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