Zacks Investment Research Upgrades Pentair (PNR) to Buy

Pentair (NYSE:PNR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, December 5th. The firm currently has a $77.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.03% from the stock’s previous close.

According to Zacks, “Pentair expects its top-line to benefit in 2018 from carryover on cost-out initiatives. The company is poised to grow on its focus on reorganization activities. It remains on track to separate Water and Electrical businesses into two publicly-traded companies. The separation is expected to occur through a tax-free spin-off of Electrical segment in second-quarter 2018. Both companies are well positioned for long-term growth and value creation. Further, Pentair continues to see strength in residential and commercial and especially in foodservice in its Filtration & Process business. The company has a positive record of earnings surprises in recent quarters. “

A number of other equities analysts have also recently weighed in on the company. Seaport Global Securities reissued a “buy” rating on shares of Pentair in a report on Wednesday, October 25th. BMO Capital Markets raised their price objective on Pentair from $78.00 to $79.00 and gave the company a “market perform” rating in a report on Wednesday, October 25th. Robert W. Baird lifted their price target on Pentair from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $76.00 price target (up from $75.00) on shares of Pentair in a research note on Wednesday, October 25th. Finally, KeyCorp reiterated a “buy” rating and issued a $77.00 price objective on shares of Pentair in a research report on Thursday, October 12th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $70.67.

Shares of Pentair (NYSE PNR) traded up $0.48 during midday trading on Tuesday, reaching $70.62. The company’s stock had a trading volume of 661,264 shares, compared to its average volume of 854,385. Pentair has a fifty-two week low of $55.76 and a fifty-two week high of $71.76. The company has a current ratio of 1.59, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. The company has a market cap of $12,737.24, a P/E ratio of 21.40, a P/E/G ratio of 1.86 and a beta of 1.41.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.02. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Pentair had a return on equity of 13.39% and a net margin of 12.50%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $0.78 EPS. equities research analysts predict that Pentair will post 3.53 EPS for the current fiscal year.

In related news, Director Trian Fund Management, L.P. acquired 384,571 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were acquired at an average cost of $68.41 per share, for a total transaction of $26,308,502.11. Following the completion of the transaction, the director now directly owns 1,122 shares in the company, valued at approximately $76,756.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Karl R. Frykman sold 11,386 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $70.24, for a total value of $799,752.64. Following the sale, the insider now owns 36,476 shares in the company, valued at $2,562,074.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 212,432 shares of company stock valued at $14,434,886. Corporate insiders own 9.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PNR. ING Groep NV purchased a new stake in shares of Pentair in the second quarter worth approximately $296,000. Municipal Employees Retirement System of Michigan raised its holdings in shares of Pentair by 179.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,910 shares of the industrial products company’s stock worth $992,000 after buying an additional 9,570 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Pentair by 0.3% in the second quarter. CIBC Asset Management Inc now owns 16,405 shares of the industrial products company’s stock worth $1,092,000 after buying an additional 54 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Pentair by 6.1% in the second quarter. Stratos Wealth Partners LTD. now owns 4,096 shares of the industrial products company’s stock worth $273,000 after buying an additional 237 shares during the period. Finally, Korea Investment CORP increased its holdings in Pentair 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 purchasing an additional 942 shares during the period. Hedge funds and other institutional investors own 84.34% of the company’s stock.

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Pentair 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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