FY2017 Earnings Estimate for Pentair PLC. Issued By Jefferies Group (PNR)
Pentair PLC. (NYSE:PNR) – Analysts at Jefferies Group boosted their FY2017 earnings per share estimates for shares of Pentair PLC. in a research note issued on Wednesday. Jefferies Group analyst B. Bohra now anticipates that the industrial products company will post earnings of $3.50 per share for the year, up from their prior estimate of $3.49. Jefferies Group currently has a “Hold” rating and a $59.00 target price on the stock. Jefferies Group also issued estimates for Pentair PLC.’s FY2018 earnings at $3.85 EPS.
Pentair PLC. (NYSE:PNR) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.00. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company earned $1.11 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis.
A number of other equities analysts also recently weighed in on PNR. Wolfe Research started coverage on Pentair PLC. in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Zacks Investment Research downgraded Pentair PLC. from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $77.00 target price on shares of Pentair PLC. in a report on Wednesday, July 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $68.00 target price on shares of Pentair PLC. in a report on Friday, July 14th. Finally, Bank of America Corporation reiterated a “sell” rating and issued a $65.00 target price on shares of Pentair PLC. in a report on Wednesday, July 26th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Pentair PLC. presently has an average rating of “Hold” and an average price target of $67.92.
Shares of Pentair PLC. (NYSE PNR) opened at 70.04 on Thursday. The company has a 50 day moving average of $64.13 and a 200 day moving average of $64.43. The firm has a market capitalization of $12.71 billion, a PE ratio of 20.62 and a beta of 1.41. Pentair PLC. has a 52-week low of $53.80 and a 52-week high of $70.51.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Pentair PLC. by 2.5% in the second quarter. Vanguard Group Inc. now owns 16,159,434 shares of the industrial products company’s stock worth $1,075,249,000 after buying an additional 392,842 shares during the last quarter. Trian Fund Management L.P. increased its holdings in Pentair PLC. by 6.0% in the second quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock worth $1,011,470,000 after buying an additional 862,769 shares during the last quarter. BlackRock Inc. increased its holdings in Pentair PLC. by 5.1% in the second quarter. BlackRock Inc. now owns 12,152,997 shares of the industrial products company’s stock worth $808,662,000 after buying an additional 588,818 shares during the last quarter. State Street Corp increased its holdings in Pentair PLC. by 1.6% in the first quarter. State Street Corp now owns 11,282,638 shares of the industrial products company’s stock worth $708,327,000 after buying an additional 180,937 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Pentair PLC. by 16.1% in the first quarter. Clearbridge Investments LLC now owns 6,133,909 shares of the industrial products company’s stock worth $385,087,000 after buying an additional 850,370 shares during the last quarter. Hedge funds and other institutional investors own 85.59% of the company’s stock.
In related news, Director Ronald Merriman sold 5,200 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $67.00, for a total value of $348,400.00. Following the transaction, the director now owns 21,538 shares in the company, valued at $1,443,046. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.90% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Friday, October 20th will be issued a $0.345 dividend. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $1.38 dividend on an annualized basis and a yield of 1.97%. Pentair PLC.’s dividend payout ratio is currently 40.71%.
Pentair PLC. Company Profile
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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