Pentair PLC. (PNR) Downgraded by Zacks Investment Research
Pentair PLC. (NYSE:PNR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Pentair has guided its full-year 2017 adjusted earnings per share (EPS) guidance of around $3.50 including the negative impact of incremental costs caused by the spin-off of its Electrical business. The company guided third-quarter adjusted EPS guidance range of 91–93 cents and adjusted core sales to grow roughly 4% for the quarter. Going forward, its focus on reorganization activities will fuel growth. The company will also gain from strong performance of the Aquatic & Environmental Systems business. However, lingering weakness in the Engineered Pump businesses, Thermal business and Telecom business, strengthening of the U.S. dollar, as well as price volatility for raw materials remain headwinds. Further, Pentair has underperformed its industry’s performance with respect to share price year to date. “
Other analysts also recently issued research reports about the company. Stifel Nicolaus reiterated a “hold” rating and set a $67.00 price target on shares of Pentair PLC. in a research note on Wednesday. Robert W. Baird reiterated a “hold” rating and set a $70.00 price target on shares of Pentair PLC. in a research note on Wednesday. Cowen and Company reiterated an “underperform” rating and set a $61.00 price target (up previously from $59.00) on shares of Pentair PLC. in a research note on Monday. Morgan Stanley reiterated an “equal weight” rating and set a $74.00 price target (up previously from $70.00) on shares of Pentair PLC. in a research note on Monday. Finally, Bank of America Corporation reiterated a “sell” rating and set a $65.00 price target on shares of Pentair PLC. in a research note on Wednesday, July 26th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $67.92.
Pentair PLC. (NYSE:PNR) traded down 0.878% during trading on Thursday, hitting $69.425. The stock had a trading volume of 328,576 shares. Pentair PLC. has a 1-year low of $53.80 and a 1-year high of $70.51. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of 20.437 and a beta of 1.41. The firm’s 50 day moving average is $64.13 and its 200 day moving average is $64.44.
Pentair PLC. (NYSE:PNR) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.00. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. Pentair PLC. had a return on equity of 13.17% and a net margin of 12.86%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.11 EPS. On average, analysts anticipate that Pentair PLC. will post $3.51 earnings per share for the current year.
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In other Pentair PLC. news, Director Ronald Merriman sold 5,200 shares of the company’s 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 completion of the transaction, the director now owns 21,538 shares of the company’s stock, valued at approximately $1,443,046. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.90% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Intl Fcstone Inc. acquired a new position in Pentair PLC. in the 2nd quarter valued at approximately $313,000. Lord Abbett & CO. LLC raised its holdings in Pentair PLC. by 193.2% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,327,823 shares of the industrial products company’s stock valued at $88,353,000 after acquiring an additional 875,023 shares in the last quarter. Sentry Investment Management LLC raised its holdings in Pentair PLC. by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 13,656 shares of the industrial products company’s stock valued at $909,000 after acquiring an additional 148 shares in the last quarter. Toronto Dominion Bank raised its holdings in Pentair PLC. by 25.9% in the 2nd quarter. Toronto Dominion Bank now owns 56,861 shares of the industrial products company’s stock valued at $3,783,000 after acquiring an additional 11,685 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Pentair PLC. in the 2nd quarter valued at approximately $2,805,000. 85.59% of the stock is owned by hedge funds and other institutional investors.
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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