Pentair (NYSE:PNR) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of Pentair (NYSE:PNR) from a sell rating to a hold rating in a research note issued to investors on Thursday, ValuEngine reports.

PNR has been the subject of a number of other reports. BMO Capital Markets dropped their target price on shares of Pentair to $39.00 and set a market perform rating for the company in a report on Thursday, April 18th. Cowen reiterated an outperform rating and set a $45.00 target price (down from $52.00) on shares of Pentair in a report on Monday, April 22nd. Morgan Stanley increased their target price on shares of Pentair from $39.00 to $40.00 and gave the stock an equal weight rating in a report on Wednesday, July 10th. Finally, Zacks Investment Research lowered shares of Pentair from a buy rating to a hold rating in a report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $45.17.

NYSE:PNR traded down $1.19 during midday trading on Thursday, hitting $36.06. The company had a trading volume of 84,800 shares, compared to its average volume of 1,584,264. Pentair has a 52-week low of $34.72 and a 52-week high of $45.99. The stock has a fifty day simple moving average of $37.54. The firm has a market cap of $6.26 billion, a P/E ratio of 15.36, a PEG ratio of 2.69 and a beta of 1.18. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.47 and a quick ratio of 0.91.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. Pentair had a net margin of 12.54% and a return on equity of 21.15%. The business had revenue of $799.50 million during the quarter, compared to analyst estimates of $790.62 million. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts predict that Pentair will post 2.32 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank raised its stake in Pentair by 25.0% in the second quarter. Huntington National Bank now owns 1,519 shares of the industrial products company’s stock worth $57,000 after buying an additional 304 shares in the last quarter. Securian Asset Management Inc raised its stake in Pentair by 2.0% in the second quarter. Securian Asset Management Inc now owns 16,189 shares of the industrial products company’s stock worth $602,000 after buying an additional 317 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in Pentair by 2.2% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 15,399 shares of the industrial products company’s stock worth $685,000 after buying an additional 325 shares in the last quarter. Stephens Inc. AR raised its stake in Pentair by 3.0% in the second quarter. Stephens Inc. AR now owns 11,141 shares of the industrial products company’s stock worth $414,000 after buying an additional 328 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in Pentair by 0.5% in the second quarter. Retirement Systems of Alabama now owns 73,749 shares of the industrial products company’s stock worth $2,743,000 after buying an additional 337 shares in the last quarter. 85.04% of the stock is owned by institutional investors.

About Pentair

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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Analyst Recommendations for Pentair (NYSE:PNR)

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