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

Pentair plc (NYSE:PNR) – Equities research analysts at Zacks Research cut their Q1 2024 earnings per share estimates for shares of Pentair in a report released on Tuesday, April 16th. Zacks Research analyst M. Das now anticipates that the industrial products company will earn $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 issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. The firm 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 period in the prior year, the business earned $0.82 EPS.

Several other research analysts have also recently issued reports on PNR. Royal Bank of Canada increased their price target on Pentair from $78.00 to $87.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. KeyCorp increased their price target on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Bank of America raised Pentair from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $46.00 to $76.00 in a research note on Thursday, January 11th. Citigroup increased their price target on Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, UBS Group increased their price target on Pentair from $72.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.33.

Pentair Stock Performance

PNR traded down $0.87 during trading on Wednesday, reaching $79.18. 920,778 shares of the company were exchanged, compared to its average volume of 1,611,675. The stock has a market cap of $13.15 billion, a P/E ratio of 21.34, a PEG ratio of 1.53 and a beta of 1.20. The firm has a 50 day moving average of $79.76 and a 200 day moving average of $71.24. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. Pentair has a 52 week low of $51.38 and a 52 week high of $85.81.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s dividend payout ratio is 24.53%.

Institutional Investors Weigh In On Pentair

Hedge funds have recently modified their holdings of the stock. Lindbrook Capital LLC lifted its holdings 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 valued at $25,000 after purchasing an additional 154 shares during the last quarter. Assetmark Inc. lifted its stake in Pentair by 935.1% in the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 346 shares in the last quarter. Quent Capital LLC lifted its stake in 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 in the last quarter. IFP Advisors Inc lifted its stake in Pentair by 97.6% in the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 202 shares in the last quarter. Finally, Baystate Wealth Management LLC purchased a new stake in Pentair in the 3rd quarter worth about $30,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

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.