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

Pentair plc (NYSE:PNR - Free Report) - Equities researchers at Seaport Res Ptn lifted their Q2 2024 earnings per share estimates for shares of Pentair in a note issued to investors on Tuesday, April 23rd. Seaport Res Ptn analyst S. Graham now expects that the industrial products company will post earnings per share of $1.17 for the quarter, up from their previous forecast of $1.11. The consensus estimate for Pentair's current full-year earnings is $4.20 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The business's quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS.

A number of other research firms have also recently commented on PNR. Bank of America upgraded Pentair from an "underperform" rating to a "neutral" rating and raised their target price for the company from $46.00 to $76.00 in a research note on Thursday, January 11th. StockNews.com cut Pentair from a "buy" rating to a "hold" rating in a research note on Friday, February 2nd. TD Cowen raised their target price on Pentair from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday. BNP Paribas began coverage on Pentair in a research note on Tuesday, March 12th. They issued a "neutral" rating and a $86.00 target price for the company. Finally, Oppenheimer raised their target price on Pentair from $88.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday. 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 a consensus rating of "Moderate Buy" and an average price target of $89.93.

Pentair Trading Up 0.3 %

Shares of PNR stock traded up $0.21 during trading hours on Thursday, reaching $79.20. The company's stock had a trading volume of 1,774,759 shares, compared to its average volume of 1,653,251. The stock has a market capitalization of $13.15 billion, a P/E ratio of 20.87, a P/E/G ratio of 1.49 and a beta of 1.20. Pentair has a one year low of $52.28 and a one year high of $85.81. The firm's fifty day simple moving average is $80.27 and its 200 day simple moving average is $71.84. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63.

Institutional Trading of Pentair

A number of institutional investors and hedge funds have recently modified their holdings of PNR. Assetmark Inc. increased its holdings in shares of Pentair by 935.1% in the 3rd quarter. Assetmark Inc. now owns 383 shares of the industrial products company's stock worth $25,000 after purchasing an additional 346 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of Pentair by 82.4% in the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company's stock worth $25,000 after purchasing an additional 154 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Pentair by 97.6% in the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company's stock worth $26,000 after purchasing an additional 202 shares in the last quarter. Quent Capital LLC increased its holdings in shares of Pentair by 112.7% in the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company's stock worth $29,000 after purchasing an additional 213 shares in the last quarter. Finally, Baystate Wealth Management LLC bought a new stake in shares of Pentair in the third quarter worth $30,000. Institutional investors own 92.37% of the company's stock.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair's payout ratio is 24.47%.

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.