Pentair plc to Post Q1 2024 Earnings of $0.89 Per Share, Zacks Research Forecasts (NYSE:PNR)

Pentair plc (NYSE:PNR) – Research analysts at Zacks Research cut their Q1 2024 earnings per share (EPS) estimates for shares of Pentair in a report released on Tuesday, April 16th. Zacks Research analyst M. Das now forecasts that the industrial products company will earn $0.89 per share for the quarter, down from their previous estimate of $0.90. The consensus estimate for Pentair’s current full-year earnings is $4.21 per share.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.86 by $0.01. The firm had revenue of $984.60 million for the quarter, compared to analyst estimates of $975.36 million. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 EPS.

PNR has been the subject of several other reports. Mizuho increased their target price on Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Royal Bank of Canada increased their target price on Pentair from $78.00 to $87.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Bank of America upgraded Pentair from an “underperform” rating to a “neutral” rating and increased their target price for the company from $46.00 to $76.00 in a report on Thursday, January 11th. Barclays increased their target price on Pentair from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Citigroup increased their target price on Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and an average target price of $87.33.

Pentair Price Performance

Shares of Pentair stock opened at $79.15 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $13.14 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. The business’s 50-day moving average price is $79.86 and its 200-day moving average price is $71.30. Pentair has a 12 month low of $51.38 and a 12 month high of $85.81.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, April 18th. Pentair’s payout ratio is presently 24.53%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PNR. Kodai Capital Management LP bought a new position in Pentair during the 4th quarter valued at approximately $173,280,000. BlackRock Inc. increased its position in Pentair by 10.6% during the 1st quarter. BlackRock Inc. now owns 15,999,717 shares of the industrial products company’s stock valued at $884,304,000 after buying an additional 1,526,893 shares in the last quarter. Millennium Management LLC increased its position in Pentair by 100.3% during the 4th quarter. Millennium Management LLC now owns 2,208,270 shares of the industrial products company’s stock valued at $99,328,000 after buying an additional 1,105,735 shares in the last quarter. Robeco Schweiz AG increased its position in Pentair by 41.3% during the 1st quarter. Robeco Schweiz AG now owns 2,667,551 shares of the industrial products company’s stock valued at $144,608,000 after buying an additional 780,043 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Pentair by 176.4% during the 1st quarter. Renaissance Technologies LLC now owns 892,164 shares of the industrial products company’s stock valued at $48,364,000 after buying an additional 569,400 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.