Morgan Stanley Boosts Pentair (NYSE:PNR) Price Target to $40.00
Pentair (NYSE:PNR) had its price target raised by Morgan Stanley from $39.00 to $40.00 in a report published on Wednesday morning, Stock Target Advisor reports. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.
PNR has been the topic of a number of other reports. BMO Capital Markets lowered their price target on Pentair to $39.00 and set a market perform rating on the stock in a report on Thursday, April 18th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Cowen set a $75.00 price target on Baxter International and gave the company a hold rating in a report on Monday, April 22nd. Finally, Zacks Investment Research raised Green Brick Partners from a sell rating to a hold rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $45.00.
Shares of PNR opened at $37.96 on Wednesday. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 2.71 and a beta of 1.20. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.77 and a quick ratio of 1.18. Pentair has a one year low of $34.72 and a one year high of $45.99. The company’s fifty day simple moving average is $36.47.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Thursday, July 18th. Pentair’s payout ratio is currently 30.64%.
Large investors have recently added to or reduced their stakes in the stock. MUFG Securities EMEA plc grew its holdings in Pentair by 4,419.6% during the fourth quarter. MUFG Securities EMEA plc now owns 197,732 shares of the industrial products company’s stock worth $7,470,000 after acquiring an additional 193,357 shares during the period. Fort L.P. grew its holdings in Pentair by 39.1% during the first quarter. Fort L.P. now owns 54,308 shares of the industrial products company’s stock worth $2,417,000 after acquiring an additional 15,261 shares during the period. Mountain Pacific Investment Advisers Inc. ID grew its holdings in Pentair by 27.1% during the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 471,032 shares of the industrial products company’s stock worth $20,966,000 after acquiring an additional 100,466 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Pentair by 46.2% during the first quarter. Rockefeller Capital Management L.P. now owns 16,632 shares of the industrial products company’s stock worth $740,000 after acquiring an additional 5,255 shares during the period. Finally, Summit Global Investments acquired a new position in Pentair during the first quarter worth about $1,213,000. 84.03% of the stock is currently owned by hedge funds and other institutional investors.
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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