Seaport Res Ptn Comments on Pentair plc's Q3 2024 Earnings (NYSE:PNR)

Pentair plc (NYSE:PNR - Free Report) - Investment analysts at Seaport Res Ptn decreased their Q3 2024 earnings per share (EPS) estimates for shares of Pentair in a report issued on Tuesday, April 23rd. Seaport Res Ptn analyst S. Graham now expects that the industrial products company will earn $1.08 per share for the quarter, down from their prior forecast of $1.09. The consensus estimate for Pentair's current full-year earnings is $4.21 per share. Seaport Res Ptn also issued estimates for Pentair's Q4 2024 earnings at $1.04 EPS, Q1 2025 earnings at $1.11 EPS, Q3 2025 earnings at $1.19 EPS and Q4 2025 earnings at $1.14 EPS.

Pentair (NYSE:PNR - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company's revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share.

A number of other brokerages have also recently issued reports on PNR. 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. UBS Group upped their target price on Pentair from $83.00 to $91.00 and gave the company a "buy" rating in a research report on Wednesday. The Goldman Sachs Group restated a "neutral" rating and set a $91.00 target price on shares of Pentair in a research report on Friday, March 22nd. Oppenheimer upped their target price on Pentair from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, Citigroup increased their price target on Pentair from $85.00 to $101.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Pentair has a consensus rating of "Moderate Buy" and a consensus target price of $89.93.

Pentair Stock Performance

Shares of PNR traded up $0.76 during mid-day trading on Friday, hitting $79.96. The company's stock had a trading volume of 940,223 shares, compared to its average volume of 1,644,687. Pentair has a one year low of $53.88 and a one year high of $85.81. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.94 and a current ratio of 1.90. The firm has a market capitalization of $13.28 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. The stock's 50-day moving average is $80.35 and its two-hundred day moving average is $71.89.

Pentair Announces Dividend

The company 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 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 currently 24.47%.

Institutional Investors Weigh In On Pentair

Hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. lifted its stake in Pentair by 935.1% during the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company's stock worth $25,000 after purchasing an additional 346 shares during the last quarter. Lindbrook Capital LLC raised its position in Pentair by 82.4% during the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 154 shares during the last quarter. IFP Advisors Inc raised its position in Pentair by 97.6% during the 3rd quarter. IFP Advisors Inc now owns 409 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 202 shares during the last quarter. Quent Capital LLC raised its position in Pentair by 112.7% during the 4th quarter. Quent Capital LLC now owns 402 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. Finally, Baystate Wealth Management LLC bought a new position in Pentair during the 3rd quarter valued at approximately $30,000. Institutional investors own 92.37% of the company's stock.

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.