Q2 2024 EPS Estimates for Pentair plc Cut by Zacks Research (NYSE:PNR)

Pentair plc (NYSE:PNR - Free Report) - Zacks Research reduced their Q2 2024 earnings estimates for shares of Pentair in a note issued to investors on Tuesday, April 16th. Zacks Research analyst M. Das now forecasts that the industrial products company will earn $1.14 per share for the quarter, down from their prior 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.

Several other research analysts also recently issued reports on the stock. Oppenheimer reiterated an "outperform" rating and issued a $88.00 target price (up previously from $82.00) on shares of Pentair in a research note on Thursday, March 7th. Mizuho boosted their price objective on shares of Pentair from $82.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, March 7th. Stifel Nicolaus boosted their price target on shares of Pentair from $88.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, March 7th. UBS Group boosted their price objective on shares of Pentair from $72.00 to $83.00 and gave the stock a "buy" rating in a research note on Wednesday, January 10th. Finally, Royal Bank of Canada upped their price objective on shares of Pentair from $78.00 to $87.00 and gave the company an "outperform" rating in a report on Monday, March 4th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Pentair presently has an average rating of "Moderate Buy" and a consensus target price of $87.33.

Pentair Trading Down 0.9 %

Shares of NYSE PNR traded down $0.69 during midday trading on Thursday, hitting $78.49. 1,192,085 shares of the company traded hands, compared to its average volume of 1,606,733. Pentair has a 12-month low of $51.38 and a 12-month high of $85.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 1.65. The stock has a 50-day moving average price of $79.94 and a 200 day moving average price of $71.35. The firm has a market cap of $13.03 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.52 and a beta of 1.20.

Pentair (NYSE:PNR - Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.01. The business had revenue of $984.60 million during the quarter, compared to analyst estimates of $975.36 million. Pentair had a net margin of 15.17% and a return on equity of 20.80%. Pentair's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 EPS.

Pentair Announces Dividend

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

Institutional Trading of Pentair

A number of large investors have recently bought and sold shares of PNR. Nordea Investment Management AB lifted its stake in Pentair by 191.8% in the fourth quarter. Nordea Investment Management AB now owns 70,424 shares of the industrial products company's stock valued at $5,122,000 after buying an additional 46,290 shares during the period. Vanguard Group Inc. lifted its holdings in Pentair by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company's stock worth $1,287,364,000 after purchasing an additional 204,416 shares during the last quarter. Vest Financial LLC lifted its holdings in Pentair by 31.7% during the 4th quarter. Vest Financial LLC now owns 450,602 shares of the industrial products company's stock worth $32,763,000 after purchasing an additional 108,560 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Pentair by 8.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 348,573 shares of the industrial products company's stock valued at $25,299,000 after acquiring an additional 27,122 shares in the last quarter. Finally, Prudential PLC bought a new position in shares of Pentair in the 3rd quarter valued at $566,000. 92.37% of the stock is currently owned by institutional investors.

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.