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

Pentair plc (NYSE:PNR) – Research analysts at Zacks Research dropped their Q2 2024 EPS estimates for shares of Pentair in a report issued on Tuesday, April 16th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings per share of $1.14 for the quarter, down from their prior estimate 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.

Other research analysts also recently issued reports about the company. Stifel Nicolaus lifted their price objective on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Oppenheimer restated an “outperform” rating and set a $88.00 price objective (up from $82.00) on shares of Pentair in a research report on Thursday, March 7th. Bank of America upgraded Pentair from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $46.00 to $76.00 in a report on Thursday, January 11th. UBS Group boosted their price target on Pentair from $72.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, Mizuho boosted their price target on Pentair from $82.00 to $100.00 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.33.

Pentair Trading Down 1.1 %

Shares of Pentair 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. Pentair has a 1 year low of $51.38 and a 1 year high of $85.81. The company has a market capitalization of $13.14 billion, a P/E ratio of 21.11, a P/E/G ratio of 1.52 and a beta of 1.20. The business has a 50 day moving average price of $79.86 and a 200 day moving average price of $71.30.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $984.60 million during the quarter, compared to the consensus estimate of $975.36 million. During the same period in the previous year, the firm posted $0.82 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year.

Institutional Trading of Pentair

A number of institutional investors have recently added to or reduced their stakes in PNR. Assetmark Inc. boosted its position in Pentair by 935.1% during the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 346 shares during the period. Lindbrook Capital LLC boosted its position in Pentair by 82.4% during the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 154 shares during the period. IFP Advisors Inc boosted its position in Pentair by 97.6% during the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 202 shares during the period. Quent Capital LLC boosted its position in Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 213 shares during the period. Finally, Baystate Wealth Management LLC purchased a new stake in Pentair during the 3rd quarter worth $30,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Pentair Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. Pentair’s dividend payout ratio (DPR) is 24.53%.

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.