Q2 2024 EPS Estimates for Pentair plc Decreased by Zacks Research (NYSE:PNR)

Pentair plc (NYSE:PNR) – Analysts at Zacks Research lowered their Q2 2024 earnings per share (EPS) estimates for shares of Pentair in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings of $1.14 per share for the quarter, down from their prior forecast of $1.15. The consensus estimate for Pentair’s current full-year earnings is $4.20 per share. Zacks Research also issued estimates for Pentair’s FY2024 earnings at $4.17 EPS, Q1 2025 earnings at $1.07 EPS, Q2 2025 earnings at $1.21 EPS, Q3 2025 earnings at $1.19 EPS, FY2025 earnings at $4.64 EPS, Q1 2026 earnings at $1.26 EPS and FY2026 earnings at $5.22 EPS.

Several other equities research analysts have also commented on the company. Stifel Nicolaus upped their price objective on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Royal Bank of Canada increased their price objective on shares of Pentair from $78.00 to $87.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. KeyCorp increased their price objective on shares of Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Finally, BNP Paribas began coverage on shares of Pentair in a research report on Tuesday, March 12th. They set a “neutral” rating and a $86.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.33.

Pentair Stock Performance

PNR stock opened at $78.53 on Thursday. The stock has a market capitalization of $13.04 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. Pentair has a 12-month low of $51.38 and a 12-month high of $85.81. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. The stock’s 50 day simple moving average is $80.02 and its 200 day simple moving average is $71.45.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.01. The business had revenue of $984.60 million for the quarter, compared to analysts’ expectations of $975.36 million. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 EPS.

Institutional Investors Weigh In On Pentair

Several institutional investors and hedge funds have recently made changes to their positions in PNR. Nordea Investment Management AB lifted its position in Pentair by 191.8% during the fourth quarter. Nordea Investment Management AB now owns 70,424 shares of the industrial products company’s stock valued at $5,122,000 after purchasing an additional 46,290 shares during the period. Vanguard Group Inc. increased its stake in shares of Pentair by 1.0% during the third quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock worth $1,287,364,000 after purchasing an additional 204,416 shares in the last quarter. Vest Financial LLC boosted its position in Pentair by 31.7% during the fourth quarter. Vest Financial LLC now owns 450,602 shares of the industrial products company’s stock worth $32,763,000 after acquiring an additional 108,560 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Pentair by 8.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 348,573 shares of the industrial products company’s stock worth $25,299,000 after acquiring an additional 27,122 shares during the last quarter. Finally, Prudential PLC acquired a new position in Pentair during the third quarter worth about $566,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 annualized dividend and a yield of 1.17%. Pentair’s dividend payout ratio (DPR) is 24.53%.

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.