Seaport Res Ptn Brokers Cut Earnings Estimates for Pentair plc (NYSE:PNR)

Pentair plc (NYSE:PNR) – Research analysts at Seaport Res Ptn lowered 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 anticipates that the industrial products company will post earnings of $1.08 per share for the quarter, down from their previous forecast of $1.09. The consensus estimate for Pentair’s current full-year earnings is $4.23 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 analysts have also recently weighed in on PNR. UBS Group increased their price target on Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday. Northcoast Research upgraded Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, April 15th. KeyCorp increased their price objective on shares of Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Citigroup boosted their target price on shares of Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Bank of America upgraded shares of Pentair from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pentair has a consensus rating of “Moderate Buy” and an average target price of $89.93.

Pentair Stock Up 1.0 %

Shares of Pentair stock opened at $79.96 on Friday. Pentair has a twelve month low of $53.88 and a twelve month high of $85.81. The company has a quick ratio of 0.94, a current ratio of 1.90 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $80.45 and its 200 day moving average is $72.00. The company has a market cap of $13.27 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 1.37 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 for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. Pentair’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio is currently 24.47%.

Institutional Investors Weigh In On Pentair

A number of institutional investors have recently added to or reduced their stakes in PNR. Vanguard Group Inc. grew its position in shares of Pentair by 1.0% during the third quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock valued at $1,287,364,000 after purchasing an additional 204,416 shares in the last quarter. Impax Asset Management Group plc boosted its stake in Pentair by 1.3% during the fourth quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock valued at $718,440,000 after buying an additional 131,745 shares during the last quarter. Kodai Capital Management LP purchased a new position in Pentair during the 4th quarter valued at approximately $173,280,000. Northern Trust Corp increased its stake in Pentair by 6.0% in the 3rd quarter. Northern Trust Corp now owns 1,724,390 shares of the industrial products company’s stock worth $111,654,000 after acquiring an additional 98,175 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Pentair by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,377,786 shares of the industrial products company’s stock worth $100,179,000 after acquiring an additional 16,875 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

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.