In a report released today, Julian Mitchell from Barclays maintained a Buy rating on Pentair (PNR – Research Report), with a price target of $96.00. The company’s shares closed yesterday at $87.19.
Mitchell covers the Industrials sector, focusing on stocks such as Honeywell International, Johnson Controls, and Parker Hannifin. According to TipRanks, Mitchell has an average return of 15.7% and a 67.20% success rate on recommended stocks.
In addition to Barclays, Pentair also received a Buy from KeyBanc’s Jeffrey Hammond in a report issued today. However, yesterday, Goldman Sachs maintained a Hold rating on Pentair (NYSE: PNR).
Based on Pentair’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.08 billion and a net profit of $152.9 million. In comparison, last year the company earned a revenue of $1.06 billion and had a net profit of $115.4 million
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PNR in relation to earlier this year. Most recently, in May 2024, Jerome O Pedretti, the EVP & CEO, Pool of PNR sold 24,747.00 shares for a total of $2,089,736.96.
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Pentair (PNR) Company Description:
Pentair Plc engages in the provision of water solutions for residential, commercial, industrial, infrastructure, and agriculture applications. Its portfolio of solutions enables people, businesses, and industries to access clean, safe water, reduce water consumption, and recover and reuse it. It operates through the following business 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. The Filtration Solutions segment distributes water and fluid treatment products and systems, including pressure tanks and vessels, control valves, activated carbon products, conventional filtration products, point-of-entry and point-of-use systems, gas recovery solutions, embrane bioreactors, wastewater reuse systems, and advanced membrane filtration and separation systems. The Flow Technologies segment offers products ranging from light duty diaphragm pumps to high-flow turbine pumps and solid handling pumps. The company was founded by Murray J. Harpole, Vern Stone, Vincent Follmer, Leroy Nelson, and Gary Ostrand on August 31, 1966 and is headquartered in London, the United Kingdom.
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