Pentair PLC. (PNR) Releases Earnings Results, Beats Expectations By $0.02 EPS
Pentair PLC. (NYSE:PNR) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.02, Bloomberg Earnings reports. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Pentair PLC. had a return on equity of 13.17% and a net margin of 12.86%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $0.78 EPS. Pentair PLC. updated its Q4 guidance to $0.93 EPS.
Pentair PLC. (PNR) opened at 70.82 on Tuesday. The stock has a market capitalization of $12.85 billion, a PE ratio of 20.85 and a beta of 1.41. Pentair PLC. has a 52 week low of $53.80 and a 52 week high of $71.44. The firm has a 50-day moving average price of $67.45 and a 200-day moving average price of $65.23.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Friday, October 20th will be paid 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 1.95%. Pentair PLC.’s dividend payout ratio (DPR) is currently 40.71%.
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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 transaction of $348,400.00. Following the completion of the transaction, the director now directly owns 21,538 shares of the company’s stock, valued at $1,443,046. The sale was disclosed in a filing with the SEC, which is available through this link. 9.90% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on PNR. Jefferies Group LLC reiterated a “hold” rating and set a $59.00 price target on shares of Pentair PLC. in a research report on Thursday, September 21st. BidaskClub downgraded Pentair PLC. from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Bank of America Corporation reiterated a “sell” rating and set a $65.00 price target on shares of Pentair PLC. in a research report on Wednesday, July 26th. Zacks Investment Research downgraded Pentair PLC. from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $70.00 price target on shares of Pentair PLC. in a research report on Wednesday, September 6th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $68.15.
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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