Oppenheimer Holdings Equities Analysts Reduce Earnings Estimates for Pentair PLC. (PNR)
Pentair PLC. (NYSE:PNR) – Oppenheimer Holdings lowered their Q3 2017 earnings per share estimates for Pentair PLC. in a research report issued on Thursday. Oppenheimer Holdings analyst J. Giannakouros now forecasts that the industrial products company will post earnings of $0.92 per share for the quarter, down from their previous estimate of $0.94. Oppenheimer Holdings also issued estimates for Pentair PLC.’s Q4 2017 earnings at $0.94 EPS.
Several other equities research analysts also recently weighed in on PNR. Zacks Investment Research downgraded Pentair PLC. from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. TheStreet upgraded Pentair PLC. from a “c+” rating to a “b” rating in a report on Monday, April 17th. BMO Capital Markets reiterated a “hold” rating and issued a $61.00 price target on shares of Pentair PLC. in a report on Wednesday, April 26th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $77.00 price target (up from $73.00) on shares of Pentair PLC. in a report on Wednesday, April 26th. Finally, Gabelli downgraded Pentair PLC. from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. Pentair PLC. has a consensus rating of “Hold” and an average target price of $66.86.
Pentair PLC. (NYSE:PNR) opened at 63.27 on Monday. Pentair PLC. has a 52 week low of $53.80 and a 52 week high of $69.03. The firm has a 50-day moving average price of $65.76 and a 200-day moving average price of $62.91. The stock has a market capitalization of $11.48 billion, a PE ratio of 18.63 and a beta of 1.40.
Pentair PLC. (NYSE:PNR) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.00. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Pentair PLC. had a return on equity of 13.17% and a net margin of 12.86%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 EPS.
A number of hedge funds have recently made changes to their positions in PNR. Regentatlantic Capital LLC boosted its stake in shares of Pentair PLC. by 0.3% in the first quarter. Regentatlantic Capital LLC now owns 5,587 shares of the industrial products company’s stock valued at $351,000 after buying an additional 15 shares during the period. Keybank National Association OH boosted its stake in shares of Pentair PLC. by 0.6% in the first quarter. Keybank National Association OH now owns 4,329 shares of the industrial products company’s stock valued at $272,000 after buying an additional 24 shares during the period. Cleararc Capital Inc. boosted its stake in shares of Pentair PLC. by 0.7% in the first quarter. Cleararc Capital Inc. now owns 4,095 shares of the industrial products company’s stock valued at $257,000 after buying an additional 28 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Pentair PLC. by 1.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,037 shares of the industrial products company’s stock valued at $191,000 after buying an additional 50 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Pentair PLC. by 0.3% in the second quarter. CIBC Asset Management Inc now owns 16,405 shares of the industrial products company’s stock valued at $1,092,000 after buying an additional 54 shares during the period. 86.28% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Edward P. Garden bought 290,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were acquired at an average price of $65.31 per share, with a total value of $18,939,900.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Trian Fund Management, L.P. bought 863,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were bought at an average cost of $65.25 per share, for a total transaction of $56,310,750.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 1,726,000 shares of company stock worth $112,619,140 and have sold 237,500 shares worth $15,706,725. 9.90% of the stock is currently owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Shareholders of record on Friday, July 21st will be given a dividend of $0.345 per share. The ex-dividend date of this dividend is Wednesday, July 19th. This represents a $1.38 annualized dividend and a yield of 2.18%. Pentair PLC.’s dividend payout ratio (DPR) is presently 40.71%.
About Pentair PLC.
Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.
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