Equities Analysts Offer Predictions for Pentair plc’s Q3 2024 Earnings (NYSE:PNR)

Pentair plc (NYSE:PNR) – Stock analysts at Seaport Res Ptn lowered their Q3 2024 earnings per share (EPS) estimates for Pentair in a report issued on Tuesday, June 25th. Seaport Res Ptn analyst S. Graham now forecasts that the industrial products company will post earnings of $1.03 per share for the quarter, down from their prior estimate of $1.08. The consensus estimate for Pentair’s current full-year earnings is $4.24 per share. Seaport Res Ptn also issued estimates for Pentair’s Q4 2024 earnings at $1.01 EPS and Q3 2025 earnings at $1.17 EPS.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The company had revenue of $1.02 billion for 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 business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share.

Several other equities analysts also recently commented on PNR. Citigroup increased their target price on shares of Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Stifel Nicolaus upped 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. KeyCorp upped their price target on shares of Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Royal Bank of Canada decreased their price target on shares of Pentair from $103.00 to $99.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, BNP Paribas began coverage on shares of Pentair in a report on Tuesday, March 12th. They set a “neutral” rating and a $86.00 price target for the company. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.67.

Pentair Trading Up 1.1 %

Pentair stock opened at $75.10 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. The company has a market capitalization of $12.47 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 1.28 and a beta of 1.22. Pentair has a one year low of $57.18 and a one year high of $85.84. The company’s fifty day moving average price is $80.32 and its two-hundred day moving average price is $77.46.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, July 19th. Pentair’s payout ratio is 24.47%.

Insider Transactions at Pentair

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the sale, the chief executive officer now owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Pentair

A number of hedge funds and other institutional investors have recently modified their holdings of PNR. Kodai Capital Management LP acquired a new stake in shares of Pentair in the fourth quarter valued at approximately $173,280,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Pentair by 352.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,577,208 shares of the industrial products company’s stock valued at $134,695,000 after purchasing an additional 1,228,635 shares in the last quarter. Swedbank AB bought a new position in Pentair in the first quarter valued at approximately $97,083,000. AMF Tjanstepension AB bought a new position in Pentair in the first quarter valued at approximately $45,096,000. Finally, Goldman Sachs Group Inc. boosted its stake in Pentair by 138.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 834,203 shares of the industrial products company’s stock valued at $60,655,000 after acquiring an additional 484,810 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Pentair Company Profile

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.