Pentair plc Forecasted to Earn Q2 2024 Earnings of $1.11 Per Share (NYSE:PNR)

Pentair plc (NYSE:PNR) – Analysts at Seaport Res Ptn dropped their Q2 2024 earnings per share estimates for shares of Pentair in a research note issued to investors on Tuesday, June 25th. Seaport Res Ptn analyst S. Graham now anticipates that the industrial products company will earn $1.11 per share for the quarter, down from their prior estimate of $1.17. The consensus estimate for Pentair’s current full-year earnings is $4.24 per share. Seaport Res Ptn also issued estimates for Pentair’s FY2024 earnings at $4.10 EPS, Q1 2025 earnings at $1.09 EPS, Q2 2025 earnings at $1.25 EPS and FY2025 earnings at $4.65 EPS.

PNR has been the subject of a number of other research reports. Stifel Nicolaus boosted their target price on Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. TD Cowen increased their price target on shares of Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. KeyCorp boosted their price objective on shares of Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. The Goldman Sachs Group reissued a “neutral” rating and issued a $91.00 target price on shares of Pentair in a research note on Friday, March 22nd. Finally, Oppenheimer increased their price objective on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Pentair currently has an average rating of “Moderate Buy” and a consensus price target of $89.67.

Pentair Stock Performance

Pentair stock opened at $76.05 on Friday. The firm has a fifty day simple moving average of $80.27 and a two-hundred day simple moving average of $77.45. Pentair has a twelve month low of $57.18 and a twelve month high of $85.84. The company has a market capitalization of $12.63 billion, a PE ratio of 20.23, a P/E/G ratio of 1.29 and a beta of 1.22. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.63.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm posted $0.91 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s payout ratio is 24.47%.

Insiders Place Their Bets

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the transaction, the chief executive officer now directly owns 38,538 shares in the company, valued at $3,254,534.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Pentair

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Lindbrook Capital LLC raised its holdings in 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 acquiring an additional 154 shares during the last quarter. Quent Capital LLC lifted its holdings in shares of Pentair by 112.7% during the fourth 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 in the last quarter. Rational Advisors LLC boosted its position in shares of Pentair by 200.0% during the first quarter. Rational Advisors LLC now owns 633 shares of the industrial products company’s stock valued at $54,000 after buying an additional 422 shares during the last quarter. LRI Investments LLC purchased a new position in Pentair in the 1st quarter worth about $56,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Pentair by 24.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 876 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 173 shares during the period. 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.