Zacks Investment Research Downgrades Pentair PLC. (PNR) to Hold
Pentair PLC. (NYSE:PNR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Pentair expects full-year 2017 adjusted EPS guidance to be in the range of $3.45–$3.55 and revenues to approximately $4.8 billion. Pentair will gain from continued dealer wins, strong product innovations and the sale of Valves & Controls. Further, the company’s focus on price increases will help mitigate cost inflation. Moreover, Pentair has a positive record of earnings surprises in recent quarters. However, strong U.S. dollar, volatile raw material prices and depressed oil prices remain headwinds. In addition, Pentair underperformed the Zacks categorized sub-industry over the past one year.”
Several other analysts have also recently commented on the company. Jefferies Group LLC raised their target price on Pentair PLC. from $58.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, April 28th. TheStreet upgraded Pentair PLC. from a “c+” rating to a “b” rating in a research report on Monday, April 17th. Gabelli cut Pentair PLC. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $61.00 target price on shares of Pentair PLC. in a research report on Thursday, June 1st. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $77.00 target price on shares of Pentair PLC. in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. Pentair PLC. has an average rating of “Hold” and a consensus price target of $66.46.
Shares of Pentair PLC. (NYSE:PNR) traded down 0.18% on Tuesday, reaching $66.74. The company had a trading volume of 362,757 shares. The stock has a 50 day moving average price of $65.91 and a 200-day moving average price of $61.76. Pentair PLC. has a 12 month low of $53.80 and a 12 month high of $69.03. The company has a market capitalization of $12.16 billion, a price-to-earnings ratio of 24.30 and a beta of 1.40.
Pentair PLC. (NYSE:PNR) last posted its earnings results on Tuesday, April 25th. The industrial products company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.61 by $0.04. Pentair PLC. had a return on equity of 14.19% and a net margin of 9.46%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm earned $0.76 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Analysts forecast that Pentair PLC. will post $3.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Investors of record on Friday, July 21st will be issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, July 19th. Pentair PLC.’s payout ratio is 50.37%.
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In related news, Chairman Randall J. Hogan sold 110,325 shares of Pentair PLC. stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $65.00, for a total value of $7,171,125.00. Following the transaction, the chairman now directly owns 198,111 shares in the company, valued at approximately $12,877,215. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Trian Fund Management, L.P. bought 863,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was bought at an average price of $65.25 per share, for a total transaction of $56,310,750.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 1,726,000 shares of company stock worth $112,619,140 and sold 356,353 shares worth $23,432,170. Insiders own 9.90% of the company’s stock.
Several institutional investors have recently modified their holdings of PNR. BlackRock Inc. boosted its position in shares of Pentair PLC. by 1,577.2% in the first quarter. BlackRock Inc. now owns 11,564,179 shares of the industrial products company’s stock worth $726,001,000 after buying an additional 10,874,699 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Pentair PLC. by 68.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,097,146 shares of the industrial products company’s stock worth $1,044,942,000 after buying an additional 8,580,677 shares during the last quarter. Norges Bank bought a new position in shares of Pentair PLC. during the fourth quarter worth about $121,869,000. Sound Shore Management Inc. CT bought a new position in shares of Pentair PLC. during the first quarter worth about $133,129,000. Finally, Alpine Investment Management LLC bought a new position in shares of Pentair PLC. during the first quarter worth about $62,461,000. Institutional investors and hedge funds own 86.67% of the company’s stock.
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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