Q2 2024 EPS Estimates for Pentair plc (NYSE:PNR) Lowered by Analyst

Pentair plc (NYSE:PNR) – Zacks Research reduced their Q2 2024 earnings estimates for shares of Pentair in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings per share of $1.14 for the quarter, down from their previous forecast of $1.15. The consensus estimate for Pentair’s current full-year earnings is $4.21 per share. Zacks Research also issued estimates for Pentair’s FY2024 earnings at $4.17 EPS, Q1 2025 earnings at $1.07 EPS, Q2 2025 earnings at $1.21 EPS, Q3 2025 earnings at $1.19 EPS, FY2025 earnings at $4.64 EPS, Q1 2026 earnings at $1.26 EPS and FY2026 earnings at $5.22 EPS.

PNR has been the topic of several other reports. Barclays raised their price objective on shares of Pentair from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. BNP Paribas started coverage on Pentair in a research report on Tuesday, March 12th. They set a “neutral” rating and a $86.00 target price for the company. Citigroup boosted their price target 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 price objective on shares of Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, Oppenheimer restated an “outperform” rating and set a $88.00 target price (up previously from $82.00) on shares of Pentair in a research report on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Pentair has an average rating of “Moderate Buy” and a consensus price target of $87.33.

Pentair Price Performance

NYSE PNR opened at $78.49 on Thursday. The stock has a market cap of $13.03 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.52 and a beta of 1.20. Pentair has a 12 month low of $51.38 and a 12 month high of $85.81. The company’s 50 day moving average is $79.94 and its two-hundred day moving average is $71.35. 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 (NYSE:PNR) last announced its earnings results 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. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The company had revenue of $984.60 million for the quarter, compared to analysts’ expectations of $975.36 million. During the same period last year, the firm earned $0.82 EPS. Pentair’s revenue for the quarter was down 1.8% compared to the same quarter last year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.17%. Pentair’s dividend payout ratio (DPR) is presently 24.53%.

Hedge Funds Weigh In On Pentair

Several large investors have recently modified their holdings of PNR. Vanguard Group Inc. increased its position 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 during the last quarter. BlackRock Inc. raised its position in Pentair by 10.6% in the 1st quarter. BlackRock Inc. now owns 15,999,717 shares of the industrial products company’s stock worth $884,304,000 after purchasing an additional 1,526,893 shares during the period. State Street Corp raised its position in Pentair by 4.4% in the 3rd quarter. State Street Corp now owns 10,611,971 shares of the industrial products company’s stock worth $431,164,000 after purchasing an additional 443,034 shares during the period. Impax Asset Management Group plc lifted its stake in Pentair by 1.3% in the fourth quarter. Impax Asset Management Group plc now owns 9,897,479 shares of the industrial products company’s stock worth $718,440,000 after purchasing an additional 131,745 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Pentair by 8.2% during the first quarter. Invesco Ltd. now owns 6,346,517 shares of the industrial products company’s stock valued at $344,045,000 after buying an additional 479,701 shares during the period. 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.