Pentair plc (NYSE:PNR) Expected to Earn Q2 2024 Earnings of $1.17 Per Share

Pentair plc (NYSE:PNR) – Investment analysts at Seaport Res Ptn upped their Q2 2024 EPS estimates for Pentair in a research note issued on Tuesday, April 23rd. Seaport Res Ptn analyst S. Graham now forecasts that the industrial products company will post earnings per share of $1.17 for the quarter, up from their prior forecast of $1.11. The consensus estimate for Pentair’s current full-year earnings is $4.21 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 posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year.

Several other equities research analysts also recently weighed in on PNR. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $91.00 price target on shares of Pentair in a research note on Friday, March 22nd. Royal Bank of Canada lifted their price objective on shares of Pentair from $101.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday. Oppenheimer lifted their price objective on shares of Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. KeyCorp lifted their price objective on shares of Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Finally, Mizuho lifted their price objective on shares of Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.93.

Pentair Trading Up 1.0 %

PNR opened at $79.96 on Thursday. Pentair has a 1-year low of $53.88 and a 1-year high of $85.81. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. The company has a market cap of $13.28 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. The company has a fifty day moving average price of $80.35 and a two-hundred day moving average price of $71.89.

Pentair Announces Dividend

The company 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kodai Capital Management LP purchased a new position in Pentair in the fourth quarter valued at about $173,280,000. AMF Tjanstepension AB purchased a new position in Pentair in the first quarter valued at about $45,096,000. Goldman Sachs Group Inc. boosted its stake in Pentair by 138.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company’s stock valued at $60,655,000 after acquiring an additional 484,810 shares during the last quarter. KBC Group NV boosted its stake in Pentair by 49.2% in the fourth quarter. KBC Group NV now owns 1,191,049 shares of the industrial products company’s stock valued at $86,601,000 after acquiring an additional 392,785 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in Pentair in the third quarter valued at about $21,044,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

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.