Q1 2024 EPS Estimates for Pentair plc Lowered by Zacks Research (NYSE:PNR)

Pentair plc (NYSE:PNR) – Analysts at Zacks Research lowered their Q1 2024 earnings per share estimates for Pentair in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst M. Das now expects that the industrial products company will earn $0.89 per share for the quarter, down from their prior estimate of $0.90. The consensus estimate for Pentair’s current full-year earnings is $4.21 per share.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus raised their target price on shares of Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Northcoast Research upgraded Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Monday. Barclays upped their price target on shares of Pentair from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Bank of America raised shares of Pentair from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $46.00 to $76.00 in a report on Thursday, January 11th. Finally, Royal Bank of Canada upped their target price on Pentair from $78.00 to $87.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.33.

Pentair Trading Down 0.9 %

NYSE PNR opened at $78.49 on Wednesday. Pentair has a 12 month low of $51.38 and a 12 month high of $85.81. The company’s 50-day moving average price is $79.94 and its 200-day moving average price is $71.35. The stock has a market cap of $13.03 billion, a PE ratio of 20.93, a PEG ratio of 1.52 and a beta of 1.20. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.86 by $0.01. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The company had revenue of $984.60 million for the quarter, compared to the consensus estimate of $975.36 million. During the same quarter in the prior year, the company posted $0.82 EPS. Pentair’s quarterly revenue was down 1.8% on a year-over-year basis.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, April 18th. Pentair’s payout ratio is currently 24.53%.

Institutional Investors Weigh In On Pentair

A number of large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. raised its position in Pentair by 10.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,329 shares of the industrial products company’s stock valued at $885,000 after acquiring an additional 1,554 shares in the last quarter. HighTower Advisors LLC grew its stake in Pentair by 54.2% in the 1st quarter. HighTower Advisors LLC now owns 16,188 shares of the industrial products company’s stock valued at $879,000 after acquiring an additional 5,692 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Pentair by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,141 shares of the industrial products company’s stock worth $1,200,000 after acquiring an additional 1,371 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Pentair by 0.3% during the first quarter. Great West Life Assurance Co. Can now owns 126,084 shares of the industrial products company’s stock worth $7,146,000 after acquiring an additional 322 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in Pentair by 17.3% during the first quarter. Allianz Asset Management GmbH now owns 14,212 shares of the industrial products company’s stock valued at $770,000 after purchasing an additional 2,098 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Company Profile

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.