Pentair (NYSE:PNR) Updates Q1 2024 Earnings Guidance

Pentair (NYSE:PNRGet Free Report) updated its first quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.880-0.910 for the period, compared to the consensus EPS estimate of 0.910. The company issued revenue guidance of $997.7 million-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Pentair also updated its FY 2024 guidance to 4.150-4.250 EPS.

Pentair Trading Up 0.6 %

Shares of PNR stock opened at $82.26 on Thursday. Pentair has a 1 year low of $50.15 and a 1 year high of $82.57. The firm has a market capitalization of $13.60 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 1.55 and a beta of 1.20. The stock has a fifty day moving average of $75.55 and a two-hundred day moving average of $69.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 1.65.

Pentair (NYSE:PNRGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.86 by $0.01. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The firm had revenue of $984.60 million for the quarter, compared to analysts’ expectations of $975.36 million. During the same period in the previous year, the business earned $0.82 earnings per share. Pentair’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, research analysts expect that Pentair will post 4.22 EPS for the current year.

Pentair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s dividend payout ratio is 24.53%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group raised their target price on shares of Pentair from $72.00 to $83.00 and gave the stock a buy rating in a report on Wednesday, January 10th. 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. KeyCorp raised their target price on Pentair from $82.00 to $92.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. Stifel Nicolaus upped their price target on Pentair from $88.00 to $94.00 and gave the company a buy rating in a research report on Thursday, March 7th. Finally, Royal Bank of Canada raised their price objective on Pentair from $78.00 to $87.00 and gave the stock an outperform rating in a research report on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $83.85.

View Our Latest Report on Pentair

Institutional Investors Weigh In On Pentair

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Pentair in the first quarter worth $49,000. Ancora Advisors LLC bought a new stake in Pentair during the first quarter valued at about $56,000. UniSuper Management Pty Ltd acquired a new stake in shares of Pentair in the second quarter valued at about $78,000. Belpointe Asset Management LLC increased its stake in shares of Pentair by 248.5% in the first quarter. Belpointe Asset Management LLC now owns 1,882 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 1,342 shares during the period. Finally, Lazard Asset Management LLC increased its position in Pentair by 25.2% in the 3rd quarter. Lazard Asset Management LLC now owns 2,272 shares of the industrial products company’s stock worth $147,000 after buying an additional 457 shares during the period. 88.60% of the stock is currently owned by institutional investors and hedge funds.

Pentair Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Pentair (NYSE:PNR)

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