Zacks Research Comments on Pentair plc's Q1 2024 Earnings (NYSE:PNR)

Pentair plc (NYSE:PNR - Free Report) - Stock analysts at Zacks Research decreased their Q1 2024 earnings per share (EPS) estimates for shares of Pentair in a report released on Tuesday, April 16th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings of $0.89 per share for the quarter, down from their previous estimate of $0.90. The consensus estimate for Pentair's current full-year earnings is $4.21 per share.

Pentair (NYSE:PNR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.86 by $0.01. The company had revenue of $984.60 million for the quarter, compared to the consensus estimate of $975.36 million. Pentair had a return on equity of 20.80% and a net margin of 15.17%. Pentair's quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 EPS.

Several other equities analysts also recently commented on the company. Oppenheimer reaffirmed an "outperform" rating and issued a $88.00 price objective (up previously from $82.00) on shares of Pentair in a research report on Thursday, March 7th. Stifel Nicolaus upped their target price on Pentair from $88.00 to $94.00 and gave the stock a "buy" rating in a report on Thursday, March 7th. Bank of America upgraded Pentair from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $46.00 to $76.00 in a report on Thursday, January 11th. Northcoast Research upgraded Pentair from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a report on Monday. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $91.00 price objective on shares of Pentair in a research note on Friday, March 22nd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $87.33.

Pentair Trading Down 1.1 %

Pentair stock traded down $0.90 during mid-day trading on Wednesday, hitting $79.15. The company's stock had a trading volume of 920,786 shares, compared to its average volume of 1,614,601. The company has a 50 day moving average of $79.86 and a 200-day moving average of $71.30. The stock has a market cap of $13.14 billion, a PE ratio of 21.11, a P/E/G ratio of 1.53 and a beta of 1.20. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 1.65. Pentair has a one year low of $51.38 and a one year high of $85.81.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PNR. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Pentair by 10.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,329 shares of the industrial products company's stock valued at $885,000 after purchasing an additional 1,554 shares during the period. HighTower Advisors LLC increased its holdings in shares of Pentair by 54.2% in the first quarter. HighTower Advisors LLC now owns 16,188 shares of the industrial products company's stock valued at $879,000 after purchasing an additional 5,692 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Pentair by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,141 shares of the industrial products company's stock valued at $1,200,000 after purchasing an additional 1,371 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of Pentair by 0.3% in the first quarter. Great West Life Assurance Co. Can now owns 126,084 shares of the industrial products company's stock valued at $7,146,000 after purchasing an additional 322 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in Pentair by 17.3% during the first quarter. Allianz Asset Management GmbH now owns 14,212 shares of the industrial products company's stock worth $770,000 after acquiring an additional 2,098 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Thursday, April 18th. Pentair's dividend payout ratio (DPR) is presently 24.53%.

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.