Zacks Research Analysts Reduce Earnings Estimates for Pentair plc (NYSE:PNR)

Pentair plc (NYSE:PNR - Free Report) - Stock analysts at Zacks Research cut their Q3 2024 earnings per share (EPS) estimates for shares of Pentair in a research report issued to clients and investors on Tuesday, July 16th. Zacks Research analyst M. Das now forecasts that the industrial products company will earn $1.05 per share for the quarter, down from their previous forecast of $1.08. The consensus estimate for Pentair's current full-year earnings is $4.22 per share.

Pentair (NYSE:PNR - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS 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%. The company's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS.

PNR has been the topic of several other reports. TD Cowen lifted their target price on Pentair from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Citigroup lifted their target price on Pentair from $85.00 to $101.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Stifel Nicolaus lifted their target price on Pentair from $94.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday. Northcoast Research raised Pentair from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Monday, April 15th. Finally, Barclays lifted their target price on Pentair from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.29.

Pentair Price Performance

Shares of Pentair stock traded down $1.97 during trading hours on Thursday, hitting $79.79. The company's stock had a trading volume of 2,616,552 shares, compared to its average volume of 1,594,875. The business has a 50 day moving average price of $79.44 and a two-hundred day moving average price of $78.09. Pentair has a 12-month low of $57.18 and a 12-month high of $85.84. The company has a market cap of $13.25 billion, a PE ratio of 21.57, a PEG ratio of 1.46 and a beta of 1.21. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. Pentair's payout ratio is 24.47%.

Insider Buying and Selling at Pentair

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the sale, the chief executive officer now owns 38,538 shares in the company, valued at approximately $3,254,534.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Trading of Pentair

A number of hedge funds and other institutional investors have recently made changes to their positions in PNR. Kodai Capital Management LP acquired a new stake in shares of Pentair during the 4th quarter worth approximately $173,280,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Pentair by 352.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company's stock worth $134,695,000 after buying an additional 1,228,635 shares during the last quarter. Swedbank AB acquired a new stake in Pentair in the 1st quarter valued at approximately $97,083,000. AMF Tjanstepension AB acquired a new stake in Pentair in the 1st quarter valued at approximately $45,096,000. Finally, Goldman Sachs Group Inc. increased its holdings in Pentair by 138.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company's stock valued at $60,655,000 after purchasing an additional 484,810 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company's stock.

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.