Seaport Res Ptn Brokers Boost Earnings Estimates for Pentair plc (NYSE:PNR)

Pentair plc (NYSE:PNR) – Equities researchers at Seaport Res Ptn boosted their Q2 2024 earnings per share (EPS) estimates for Pentair in a report issued on Tuesday, April 23rd. Seaport Res Ptn analyst S. Graham now forecasts 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.

A number of other research firms also recently weighed in on PNR. Bank of America raised Pentair from an “underperform” rating to a “neutral” rating and increased their target price for the company from $46.00 to $76.00 in a report on Thursday, January 11th. Oppenheimer increased their target price on Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. Mizuho increased their target price on Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, March 7th. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada raised their price objective on Pentair from $101.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.93.

Pentair Stock Up 0.7 %

PNR stock opened at $78.99 on Thursday. Pentair has a fifty-two week low of $52.28 and a fifty-two week high of $85.81. The business’s 50-day moving average is $80.19 and its two-hundred day moving average is $71.79. 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 company has a market cap of $13.11 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.49 and a beta of 1.20.

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

Institutional Trading of Pentair

Several institutional investors have recently made changes to their positions in the business. Oak Family Advisors LLC grew its position in shares of Pentair by 1.6% during the first quarter. Oak Family Advisors LLC now owns 11,013 shares of the industrial products company’s stock worth $941,000 after purchasing an additional 169 shares in the last quarter. Adams Diversified Equity Fund Inc. purchased a new stake in shares of Pentair during the first quarter worth about $23,317,000. Rational Advisors LLC grew 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 worth $54,000 after purchasing an additional 422 shares in the last quarter. Fifth Third Bancorp grew its holdings in Pentair by 8.8% during the 1st quarter. Fifth Third Bancorp now owns 3,356 shares of the industrial products company’s stock valued at $287,000 after buying an additional 271 shares in the last quarter. Finally, Revisor Wealth Management LLC grew its holdings in Pentair by 92.7% during the 1st quarter. Revisor Wealth Management LLC now owns 9,722 shares of the industrial products company’s stock valued at $768,000 after buying an additional 4,678 shares in the last quarter. Hedge funds and other 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. Investors of record on Friday, April 19th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s dividend payout ratio is currently 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.