Pentair plc (NYSE:PNR) to Post Q3 2024 Earnings of $1.08 Per Share, Seaport Res Ptn Forecasts

Pentair plc (NYSE:PNR) – Seaport Res Ptn reduced their Q3 2024 earnings per share (EPS) estimates for Pentair in a note issued to investors on Tuesday, April 23rd. Seaport Res Ptn analyst S. Graham now forecasts that the industrial products company will post earnings per share of $1.08 for the quarter, down from their prior forecast of $1.09. The consensus estimate for Pentair’s current full-year earnings is $4.21 per share. Seaport Res Ptn also issued estimates for Pentair’s Q4 2024 earnings at $1.04 EPS, Q1 2025 earnings at $1.11 EPS, Q3 2025 earnings at $1.19 EPS and Q4 2025 earnings at $1.14 EPS.

Several other equities research analysts have also recently issued reports on PNR. Mizuho lifted their target price on Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Barclays boosted their price objective on Pentair from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group reissued a “neutral” rating and set a $91.00 price objective on shares of Pentair in a research note on Friday, March 22nd. UBS Group boosted their price objective on Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Oppenheimer boosted their price objective on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.93.

Pentair Trading Up 1.0 %

Shares of PNR stock opened at $79.96 on Friday. Pentair has a 12-month low of $53.88 and a 12-month high of $85.81. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. The stock’s 50-day moving average price is $80.35 and its 200-day moving average price is $71.89. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year.

Institutional Trading of Pentair

Large investors have recently modified their holdings of the company. Lindbrook Capital LLC boosted its holdings in shares of Pentair by 82.4% in the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 154 shares during the period. Assetmark Inc. lifted its holdings in Pentair by 935.1% during the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after buying an additional 346 shares during the period. Quent Capital LLC lifted its holdings in Pentair by 112.7% during the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after buying an additional 213 shares during the period. IFP Advisors Inc lifted its holdings in Pentair by 97.6% during the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after buying an additional 202 shares during the period. Finally, Baystate Wealth Management LLC purchased a new stake in Pentair during the third quarter worth $30,000. Hedge funds and other institutional investors 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. Investors of record on Friday, April 19th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. Pentair’s payout ratio is 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.