Pentair PLC (NYSE:PNR) was downgraded by investment analysts at Susquehanna from a “positive” rating to a “neutral” rating in a note issued to investors on Monday. They currently have a $59.00 target price on the stock, down from their prior target price of $69.00. Susquehanna’s price target would suggest a potential upside of 1.62% from the stock’s current price.
A number of other research analysts have also recently issued reports on the company. RBC Capital Markets reissued an “outperform” rating and issued a $66.00 target price (down from $73.00) on shares of Pentair PLC in a research note on Friday, October 28th. TheStreet cut Pentair PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Credit Suisse Group AG began coverage on Pentair PLC in a research report on Monday, September 26th. They set a “neutral” rating and a $66.00 price objective for the company. Cowen and Company cut Pentair PLC from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $64.05 to $55.00 in a research report on Thursday, September 1st. Finally, Zacks Investment Research cut Pentair PLC from a “hold” rating to a “strong sell” rating in a research report on Monday, August 29th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company. Pentair PLC presently has an average rating of “Hold” and an average price target of $59.71.
Pentair PLC (NYSE:PNR) opened at 58.06 on Monday. The company’s market capitalization is $10.55 billion. The company has a 50 day moving average price of $57.62 and a 200-day moving average price of $60.62. Pentair PLC has a 52 week low of $41.57 and a 52 week high of $66.99.
Pentair PLC (NYSE:PNR) last posted its earnings results on Tuesday, October 25th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Pentair PLC had a return on equity of 16.61% and a net margin of 7.70%. The firm earned $1.20 billion during the quarter, compared to analysts’ expectations of $808 million. During the same period in the previous year, the firm earned $0.70 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. On average, equities analysts anticipate that Pentair PLC will post $3.01 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 4th. Shareholders of record on Friday, October 21st were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Wednesday, October 19th. This is a positive change from Pentair PLC’s previous quarterly dividend of $0.33. Pentair PLC’s dividend payout ratio (DPR) is 51.52%.
In other Pentair PLC news, Director T Michael Glenn sold 10,000 shares of the firm’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $62.61, for a total transaction of $626,100.00. Following the transaction, the director now owns 22,535 shares in the company, valued at approximately $1,410,916.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Cleararc Capital Inc. raised its position in Pentair PLC by 1.1% in the first quarter. Cleararc Capital Inc. now owns 4,466 shares of the company’s stock worth $242,000 after buying an additional 47 shares during the period. Geode Capital Management LLC raised its position in Pentair PLC by 3.3% in the first quarter. Geode Capital Management LLC now owns 1,491,423 shares of the company’s stock worth $80,760,000 after buying an additional 47,150 shares during the period. Citizens Financial Group Inc RI raised its position in Pentair PLC by 1,057.1% in the first quarter. Citizens Financial Group Inc RI now owns 2,268 shares of the company’s stock worth $123,000 after buying an additional 2,072 shares during the period. AMP Capital Investors Ltd raised its position in Pentair PLC by 7.8% in the first quarter. AMP Capital Investors Ltd now owns 52,468 shares of the company’s stock worth $2,837,000 after buying an additional 3,800 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Pentair PLC by 230.4% in the first quarter. Envestnet Asset Management Inc. now owns 384,888 shares of the company’s stock worth $20,884,000 after buying an additional 268,398 shares during the period. Hedge funds and other institutional investors own 88.29% of the company’s stock.
About Pentair PLC