Seaport Res Ptn Brokers Boost Earnings Estimates for Pentair plc (NYSE:PNR)

Pentair plc (NYSE:PNR) – Equities researchers at Seaport Res Ptn increased their Q2 2024 earnings per share estimates for shares of Pentair in a note issued to investors on Tuesday, April 23rd. Seaport Res Ptn analyst S. Graham now expects that the industrial products company will post earnings of $1.17 per share for the quarter, up from their previous 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 for the quarter, topping the consensus estimate of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.91 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis.

PNR has been the topic of several other research reports. TD Cowen boosted their price target on Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. BNP Paribas initiated coverage on Pentair in a research note on Tuesday, March 12th. They set a “neutral” rating and a $86.00 price target on the stock. 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 research note on Thursday, January 11th. Finally, Northcoast Research upgraded Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.93.

Pentair Stock Up 0.7 %

Shares of PNR stock opened at $78.99 on Thursday. 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 stock’s fifty day moving average price is $80.19 and its 200 day moving average price is $71.79. The company has a market cap of $13.11 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.20. Pentair has a 1-year low of $52.28 and a 1-year high of $85.81.

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 issued a $0.23 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. Pentair’s payout ratio is 24.47%.

Hedge Funds Weigh In On Pentair

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of 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 during the last quarter. Impax Asset Management Group plc raised its holdings in shares of Pentair by 1.3% during the fourth quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock valued at $718,440,000 after acquiring an additional 131,745 shares during the last quarter. Kodai Capital Management LP acquired a new position in shares of Pentair during the fourth quarter valued at approximately $173,280,000. Northern Trust Corp raised its holdings in shares of Pentair by 6.0% during the third quarter. Northern Trust Corp now owns 1,724,390 shares of the industrial products company’s stock valued at $111,654,000 after acquiring an additional 98,175 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Pentair by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,377,786 shares of the industrial products company’s stock valued at $100,179,000 after acquiring an additional 16,875 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.