Q2 2024 EPS Estimates for Pentair plc Lowered by Analyst (NYSE:PNR)

Pentair plc (NYSE:PNR) – Zacks Research decreased their Q2 2024 earnings per share estimates for shares of Pentair in a research note issued to investors on Tuesday, April 16th. Zacks Research analyst M. Das now expects that the industrial products company will earn $1.14 per share for the quarter, down from their prior estimate of $1.15. The consensus estimate for Pentair’s current full-year earnings is $4.21 per share. Zacks Research also issued estimates for Pentair’s FY2024 earnings at $4.17 EPS, Q1 2025 earnings at $1.07 EPS, Q2 2025 earnings at $1.21 EPS, Q3 2025 earnings at $1.19 EPS, FY2025 earnings at $4.64 EPS, Q1 2026 earnings at $1.26 EPS and FY2026 earnings at $5.22 EPS.

Several other research firms have also recently issued reports on PNR. KeyCorp lifted their price objective on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $91.00 price target on shares of Pentair in a research report on Friday, March 22nd. Citigroup raised their price objective on Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. UBS Group lifted their target price on shares of Pentair from $72.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Finally, Northcoast Research upgraded shares of Pentair from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.33.

Pentair Stock Down 0.9 %

Shares of NYSE PNR opened at $78.49 on Thursday. The firm has a market cap of $13.03 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.52 and a beta of 1.20. The company’s 50-day simple moving average is $79.94 and its 200-day simple moving average is $71.35. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.62. Pentair has a 52-week low of $51.38 and a 52-week high of $85.81.

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

Institutional Trading of Pentair

Hedge funds and other institutional investors have recently made changes to their positions in the company. AMF Tjanstepension AB purchased a new position in Pentair in the first quarter worth approximately $45,096,000. Affiance Financial LLC acquired a new position in shares of Pentair in the 1st quarter valued at $201,000. Mcdonald Partners LLC grew its holdings in shares of Pentair by 1.4% during the 1st quarter. Mcdonald Partners LLC now owns 51,868 shares of the industrial products company’s stock worth $4,432,000 after purchasing an additional 725 shares during the period. Ballentine Partners LLC increased its position in shares of Pentair by 8.8% during the 1st quarter. Ballentine Partners LLC now owns 3,646 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 295 shares during the last quarter. Finally, Czech National Bank raised its holdings in Pentair by 0.5% in the 1st quarter. Czech National Bank now owns 29,094 shares of the industrial products company’s stock valued at $2,486,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.17%. Pentair’s dividend payout ratio (DPR) is 24.53%.

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.