Q1 2024 Earnings Estimate for Pentair plc Issued By Zacks Research (NYSE:PNR)

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

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

Other research analysts have also recently issued research reports about the stock. Bank of America upgraded shares of Pentair from an “underperform” rating to a “neutral” rating and upped their price target for the company from $46.00 to $76.00 in a report on Thursday, January 11th. KeyCorp raised their price target 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. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. BNP Paribas began coverage on shares of Pentair in a report on Tuesday, March 12th. They set a “neutral” rating and a $86.00 target price for the company. Finally, Citigroup lifted their price target on shares of Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.33.

Pentair Price Performance

Shares of PNR stock opened at $78.49 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.62. Pentair has a 12-month low of $51.38 and a 12-month high of $85.81. The firm has a fifty day moving average of $79.94 and a 200-day moving average of $71.35. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.52 and a beta of 1.20.

Institutional Investors Weigh In On Pentair

A number of hedge funds and other institutional investors have recently modified their holdings of PNR. Nordea Investment Management AB increased its holdings in shares of Pentair by 191.8% during the fourth quarter. Nordea Investment Management AB now owns 70,424 shares of the industrial products company’s stock worth $5,122,000 after buying an additional 46,290 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Pentair by 1.0% in the 3rd 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 during the period. Vest Financial LLC boosted its holdings in shares of Pentair by 31.7% during the 4th quarter. Vest Financial LLC now owns 450,602 shares of the industrial products company’s stock worth $32,763,000 after buying an additional 108,560 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Pentair by 8.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 348,573 shares of the industrial products company’s stock valued at $25,299,000 after acquiring an additional 27,122 shares in the last quarter. Finally, Prudential PLC acquired a new stake in shares of Pentair in the 3rd quarter valued at about $566,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders 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 of this dividend is Thursday, April 18th. Pentair’s payout ratio is 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.