Q2 2024 EPS Estimates for Pentair plc Increased by Seaport Res Ptn (NYSE:PNR)

Pentair plc (NYSE:PNR) – Analysts at Seaport Res Ptn upped their Q2 2024 earnings estimates for shares of Pentair in a research report issued to clients and investors on Tuesday, April 23rd. Seaport Res Ptn analyst S. Graham now expects that the industrial products company will post earnings per share of $1.17 for the quarter, up from their prior estimate of $1.11. The consensus estimate for Pentair’s current full-year earnings is $4.20 per share. Seaport Res Ptn also issued estimates for Pentair’s FY2024 earnings at $4.23 EPS, Q2 2025 earnings at $1.32 EPS and FY2025 earnings at $4.76 EPS.

Other equities research analysts have also issued reports about the stock. Northcoast Research raised shares of Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Monday, April 15th. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. UBS Group raised their target price on shares of Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday. Oppenheimer raised their target price on shares of Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Barclays raised their target price on shares of Pentair from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.93.

Pentair Trading Up 0.3 %

Shares of PNR opened at $79.20 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 0.94. Pentair has a 1 year low of $52.28 and a 1 year high of $85.81. The company has a 50 day simple moving average of $80.27 and a two-hundred day simple moving average of $71.84. The firm has a market cap of $13.15 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 1.49 and a beta of 1.20.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $0.91 EPS. The company’s revenue was down 1.1% on a year-over-year basis.

Institutional Trading of Pentair

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Pentair by 1.0% during the third quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock valued at $1,287,364,000 after buying an additional 204,416 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of Pentair by 1.3% during the fourth quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock valued at $718,440,000 after buying an additional 131,745 shares during the last quarter. Kodai Capital Management LP purchased a new stake in shares of Pentair during the fourth quarter valued at about $173,280,000. Northern Trust Corp lifted its position in shares of Pentair by 6.0% during the third quarter. Northern Trust Corp now owns 1,724,390 shares of the industrial products company’s stock valued at $111,654,000 after buying an additional 98,175 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Pentair by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,377,786 shares of the industrial products company’s stock valued at $100,179,000 after buying an additional 16,875 shares during the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a $0.23 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. Pentair’s payout ratio is currently 24.47%.

About Pentair

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.