Pentair plc (NYSE:PNR) Forecasted to Earn Q2 2024 Earnings of $1.11 Per Share

Pentair plc (NYSE:PNR) – Research analysts at Seaport Res Ptn lowered their Q2 2024 earnings per share estimates for Pentair in a note issued to investors on Tuesday, June 25th. Seaport Res Ptn analyst S. Graham now forecasts that the industrial products company will post earnings of $1.11 per share for the quarter, down from their previous estimate of $1.17. The consensus estimate for Pentair’s current full-year earnings is $4.24 per share. Seaport Res Ptn also issued estimates for Pentair’s FY2024 earnings at $4.10 EPS, Q1 2025 earnings at $1.09 EPS, Q2 2025 earnings at $1.25 EPS and FY2025 earnings at $4.65 EPS.

Pentair (NYSE:PNR) last announced its quarterly 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 the consensus estimate of $1.01 billion. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share.

Several other brokerages have also commented on PNR. KeyCorp boosted their price objective on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. The Goldman Sachs Group reissued a “neutral” rating and issued a $91.00 price target on shares of Pentair in a report on Friday, March 22nd. Royal Bank of Canada dropped their price objective on shares of Pentair from $103.00 to $99.00 and set an “outperform” rating for the company in a report on Tuesday. Oppenheimer upped their target price on shares of Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Stifel Nicolaus raised their price target on Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and an average target price of $90.71.

Pentair Price Performance

NYSE:PNR opened at $76.67 on Friday. Pentair has a 52-week low of $57.18 and a 52-week high of $85.84. The stock has a fifty day moving average of $80.24 and a 200 day moving average of $77.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90. The firm has a market capitalization of $12.73 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.29 and a beta of 1.22.

Institutional Investors Weigh In On Pentair

Institutional investors and hedge funds have recently modified their holdings of the stock. Lindbrook Capital LLC grew its stake 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 buying an additional 154 shares during the last quarter. Quent Capital LLC grew its holdings 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 acquiring an additional 213 shares in the last quarter. Rational Advisors LLC raised its holdings in shares of Pentair by 200.0% in the 1st quarter. Rational Advisors LLC now owns 633 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 422 shares in the last quarter. LRI Investments LLC bought a new position in shares of Pentair during the first quarter valued at approximately $56,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Pentair by 24.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock worth $64,000 after buying an additional 173 shares during the period. Institutional investors own 92.37% of the company’s stock.

Insider Activity

In related news, CEO Jerome O. Pedretti sold 24,747 shares of Pentair stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the transaction, the chief executive officer now directly owns 38,538 shares in the company, valued at $3,254,534.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Friday, July 19th. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

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.