Pentair plc (NYSE:PNR) Forecasted to Post Q2 2024 Earnings of $1.17 Per Share

Pentair plc (NYSE:PNR) – Equities researchers at Seaport Res Ptn boosted their Q2 2024 earnings per share (EPS) estimates for Pentair in a research report issued to clients and investors 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 $4.21 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.

PNR has been the subject of a number of other research reports. Royal Bank of Canada lifted their price objective on Pentair from $101.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group reissued a “neutral” rating and set a $91.00 price objective on shares of Pentair in a research report on Friday, March 22nd. UBS Group lifted their price objective on Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer lifted their price objective on Pentair from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on Pentair from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.93.

Pentair Stock Performance

Shares of Pentair stock opened at $79.96 on Thursday. The stock has a market cap of $13.28 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. The business has a fifty day simple moving average of $80.35 and a 200-day simple moving average of $71.89. The company has a quick ratio of 0.94, a current ratio of 1.90 and a debt-to-equity ratio of 0.63. Pentair has a 12 month low of $53.88 and a 12 month high of $85.81.

Pentair (NYSE:PNR) last issued its 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. The business had revenue of $1.02 billion during 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%. Pentair’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.15%. Pentair’s payout ratio is presently 24.47%.

Hedge Funds Weigh In On Pentair

Institutional investors have recently made changes to their positions in the business. Assetmark Inc. increased its stake in shares of Pentair by 935.1% in the third quarter. Assetmark Inc. now owns 383 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 346 shares during the period. Lindbrook Capital LLC increased its stake in shares of Pentair by 82.4% in the fourth quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 154 shares during the period. IFP Advisors Inc increased its stake in shares of Pentair by 97.6% in the third quarter. IFP Advisors Inc now owns 409 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 202 shares during the period. Quent Capital LLC grew its position in Pentair by 112.7% during the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock worth $29,000 after buying an additional 213 shares in the last quarter. Finally, Baystate Wealth Management LLC acquired a new stake in Pentair during the third quarter worth about $30,000. 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.