Q2 2024 EPS Estimates for Pentair plc Increased by Seaport Res Ptn (NYSE:PNR)

Pentair plc (NYSE:PNR) – Equities research analysts at Seaport Res Ptn raised their Q2 2024 earnings estimates for shares of Pentair in a research report issued on Tuesday, April 23rd. Seaport Res Ptn analyst S. Graham now forecasts that the industrial products company will earn $1.17 per share for the quarter, up from their prior forecast of $1.11. The consensus estimate for Pentair’s current full-year earnings is $4.20 per share. Seaport Res Ptn also issued estimates for Pentair’s FY2024 earnings at $4.23 EPS, Q2 2025 earnings at $1.32 EPS and FY2025 earnings at $4.76 EPS.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS.

Several other equities analysts also recently commented on PNR. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. BNP Paribas initiated coverage on shares of Pentair in a research note on Tuesday, March 12th. They set a “neutral” rating and a $86.00 price target for the company. 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 report on Thursday, March 7th. TD Cowen increased their price objective on shares of Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus increased their price objective on shares of Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Five 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 stock currently has an average rating of “Moderate Buy” and an average price target of $89.93.

Pentair Price Performance

Shares of NYSE:PNR opened at $79.20 on Thursday. The company has a market cap of $13.15 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 1.49 and a beta of 1.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $80.27 and a 200 day simple moving average of $71.84. Pentair has a one year low of $52.28 and a one year high of $85.81.

Pentair Dividend Announcement

The firm also recently declared 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 1.16%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio (DPR) is currently 24.47%.

Hedge Funds Weigh In On Pentair

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in 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 acquiring an additional 204,416 shares in the last quarter. Impax Asset Management Group plc grew its stake in Pentair by 1.3% in the 4th quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock worth $718,440,000 after buying an additional 131,745 shares in the last quarter. Kodai Capital Management LP purchased a new position in Pentair in the 4th quarter worth approximately $173,280,000. Northern Trust Corp grew 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 buying an additional 98,175 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Pentair by 1.2% in 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 buying an additional 16,875 shares in the last quarter. Hedge funds and other institutional investors 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.