Zacks Research Comments on Pentair plc’s Q2 2024 Earnings (NYSE:PNR)

Pentair plc (NYSE:PNR) – Equities research analysts at Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for Pentair in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst M. Das now forecasts that the industrial products company will earn $1.14 per share for the quarter, down from their prior forecast 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.

PNR has been the subject of a number of other reports. The Goldman Sachs Group restated a “neutral” rating and issued a $91.00 price target on shares of Pentair in a research report on Friday, March 22nd. Northcoast Research upgraded Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Monday. UBS Group upped their price objective on Pentair from $72.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Barclays upped their price objective on Pentair from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Stifel Nicolaus upped their price objective on Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.33.

Pentair Price Performance

PNR stock opened at $79.15 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.65 and a quick ratio of 0.94. The business has a 50 day simple moving average of $79.86 and a 200-day simple moving average of $71.30. The firm has a market capitalization of $13.14 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.52 and a beta of 1.20. Pentair has a 1 year low of $51.38 and a 1 year high of $85.81.

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

Institutional Trading of Pentair

Large investors have recently modified their holdings of the stock. Assetmark Inc. increased its position in shares of 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 acquiring an additional 346 shares during the period. Lindbrook Capital LLC increased its position in shares of Pentair by 82.4% during the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 154 shares during the period. IFP Advisors Inc increased its position in shares of 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 acquiring an additional 202 shares during the period. Quent Capital LLC increased its position in shares of 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 acquiring an additional 213 shares during the period. Finally, Baystate Wealth Management LLC purchased a new stake in shares of Pentair during the third quarter worth $30,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio is currently 24.53%.

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.