Pentair (NYSE:PNR) Updates FY 2024 Earnings Guidance

Pentair (NYSE:PNR) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 4.250-4.250 for the period, compared to the consensus earnings per share estimate of 4.180. The company issued revenue guidance of $4.1 billion-$4.1 billion, compared to the consensus revenue estimate of $4.2 billion. Pentair also updated its FY24 guidance to ~$4.25 EPS.

Wall Street Analyst Weigh In

Several research firms have issued reports on PNR. Citigroup upped their price target on Pentair from $85.00 to $101.00 and gave the company a buy rating in a report on Monday, April 8th. Royal Bank of Canada boosted their target price on shares of Pentair from $99.00 to $101.00 and gave the company an outperform rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Pentair from $90.00 to $98.00 and gave the company a buy rating in a research note on Wednesday. TD Cowen boosted their target price on shares of Pentair from $80.00 to $85.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Finally, UBS Group boosted their target price on shares of Pentair from $83.00 to $91.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $92.87.

Pentair Trading Up 1.8 %

Pentair stock opened at $87.68 on Friday. The company’s fifty day simple moving average is $79.33 and its 200-day simple moving average is $78.56. The company has a quick ratio of 1.17, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. Pentair has a 12 month low of $57.18 and a 12 month high of $88.47. The stock has a market cap of $14.51 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.44 and a beta of 1.21.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.14 by $0.08. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. Pentair’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. As a group, sell-side analysts forecast that Pentair will post 4.3 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s dividend payout ratio is presently 24.47%.

Insider Buying and Selling

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

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.