Brokers Issue Forecasts for Pentair plc’s Q3 2024 Earnings (NYSE:PNR)

Pentair plc (NYSE:PNR) – Stock analysts at Zacks Research reduced their Q3 2024 earnings per share estimates for shares of Pentair in a report issued on Friday, May 3rd. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings of $1.08 per share for the quarter, down from their previous estimate 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.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. The company had revenue of $1.02 billion for 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%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share.

A number of other brokerages have also recently commented on PNR. Stifel Nicolaus upped their target price on shares of Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, March 7th. BNP Paribas assumed coverage on Pentair in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 target price on the stock. Barclays boosted their target price on Pentair from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. UBS Group lifted their price objective on shares of Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Mizuho upped their price objective 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 investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.93.

Pentair Stock Performance

Shares of Pentair stock opened at $81.90 on Monday. The stock has a market capitalization of $13.60 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.37 and a beta of 1.24. The firm’s fifty day simple moving average is $80.99 and its 200-day simple moving average is $72.79. 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.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Friday, April 19th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.12%. Pentair’s dividend payout ratio is presently 24.47%.

Institutional Investors Weigh In On Pentair

Hedge funds have recently bought and sold shares of the business. Assetmark Inc. raised its stake in shares of Pentair by 935.1% in the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 346 shares in the last quarter. Lindbrook Capital LLC grew 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 last quarter. Quent Capital LLC increased its holdings in shares of Pentair by 112.7% in the 4th 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. Baystate Wealth Management LLC bought a new stake in Pentair in the 3rd quarter valued at about $30,000. Finally, Operose Advisors LLC acquired a new stake in shares of Pentair in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

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.