William Blair Bullish On Pentair Inc. (PNR)
Global investment bank William Blair & Co. commented on Thursday about the positive takeaways from the firm’s 33rd Annual Growth Stock Conference regarding Pentair Inc. (PNR).
Brian Drab, an analyst with William Blair & Co., reaffirmed FY13 through FY15 guidance, citing several encouraging developments taking place within the Minnesota-based industrial manufacturer. Pentair management said that is has identified roughly $45 million in cost savings through lean initiatives, while its longer-term saving goals actually comes in at $115 million. Drab also noted, “Management believes realigning Pentair’s ERP system could provide savings well above the amount initially targeted by the company”. William Blair & Co. currently has an “Outperform” rating on this stock with no definitive price target.
Pentair shares were up alongside the broad market on Thursday, gaining 2.31% on the day. The stock is up just over 20% YTD.
The Bottom Line
Shares of Pentair Inc. (PNR) have a 1.68% yield, based on Thursday closing price of $59.39.
Pentair Inc. (PNR) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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