Pentair plc Forecasted to Earn Q3 2024 Earnings of $1.08 Per Share (NYSE:PNR)

Pentair plc (NYSE:PNR) – Equities research analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for shares of Pentair in a research note issued on Friday, May 3rd. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings of $1.08 per share for the quarter, down from their previous forecast of $1.10. The consensus estimate for Pentair’s current full-year earnings is $4.24 per share. Zacks Research also issued estimates for Pentair’s Q4 2024 earnings at $1.03 EPS, Q2 2025 earnings at $1.19 EPS, Q3 2025 earnings at $1.17 EPS, Q4 2025 earnings at $1.14 EPS, FY2025 earnings at $4.58 EPS and Q1 2026 earnings at $1.25 EPS.

A number of other brokerages have also recently issued reports on PNR. Northcoast Research raised shares of Pentair from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, April 15th. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Citigroup boosted their price objective on Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, April 8th. BNP Paribas assumed coverage on shares of Pentair in a research note on Tuesday, March 12th. They set a “neutral” rating and a $86.00 target price on the stock. Finally, Mizuho increased their price target on shares of Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.93.

Pentair Stock Performance

Shares of PNR opened at $79.61 on Monday. The business’s fifty day moving average price is $80.87 and its 200 day moving average price is $72.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. Pentair has a 12-month low of $55.26 and a 12-month high of $85.81. The stock has a market capitalization of $13.22 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 1.37 and a beta of 1.24.

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, 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 for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $0.91 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis.

Institutional Trading of Pentair

Several hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its position in Pentair by 4.5% in the third quarter. Commonwealth Equity Services LLC now owns 34,622 shares of the industrial products company’s stock worth $2,242,000 after purchasing an additional 1,479 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Pentair by 6.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,064 shares of the industrial products company’s stock worth $781,000 after purchasing an additional 713 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Pentair by 7.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 86,215 shares of the industrial products company’s stock valued at $5,582,000 after acquiring an additional 6,215 shares during the last quarter. Xponance Inc. lifted its stake in shares of Pentair by 1.3% in the 3rd quarter. Xponance Inc. now owns 22,911 shares of the industrial products company’s stock valued at $1,483,000 after purchasing an additional 301 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its stake in Pentair by 7.0% in the third quarter. Stratos Wealth Partners LTD. now owns 5,021 shares of the industrial products company’s stock valued at $325,000 after buying an additional 330 shares during the period. Institutional investors own 92.37% of the company’s stock.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Friday, April 19th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, April 18th. Pentair’s dividend 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.