Zacks: Analysts Expect Pentair PLC. (PNR) Will Post Quarterly Sales of $1.23 Billion
Analysts expect that Pentair PLC. (NYSE:PNR) will post sales of $1.23 billion for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Pentair PLC.’s earnings, with estimates ranging from $1.22 billion to $1.24 billion. Pentair PLC. reported sales of $1.21 billion during the same quarter last year, which would indicate a positive year over year growth rate of 1.7%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, October 24th.
On average, analysts expect that Pentair PLC. will report full-year sales of $1.23 billion for the current year, with estimates ranging from $4.87 billion to $4.96 billion. For the next fiscal year, analysts forecast that the company will post sales of $5.08 billion per share, with estimates ranging from $5.00 billion to $5.21 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Pentair PLC..
Pentair PLC. (NYSE:PNR) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.02. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Pentair PLC. had a return on equity of 13.17% and a net margin of 12.86%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share.
Several equities research analysts have recently issued reports on PNR shares. Wolfe Research started coverage on shares of Pentair PLC. in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. Zacks Investment Research lowered shares of Pentair PLC. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Royal Bank Of Canada reissued a “buy” rating and set a $77.00 target price on shares of Pentair PLC. in a research note on Wednesday, July 12th. Jefferies Group LLC reissued a “hold” rating and set a $59.00 target price on shares of Pentair PLC. in a research note on Friday, July 14th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $68.00 target price on shares of Pentair PLC. in a research note on Friday, July 14th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. Pentair PLC. presently has an average rating of “Hold” and a consensus target price of $68.15.
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In related news, Director Ronald Merriman sold 5,200 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were 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 owns 21,538 shares in the company, valued at approximately $1,443,046. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Pentair PLC. by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 16,159,434 shares of the industrial products company’s stock valued at $1,075,249,000 after acquiring an additional 392,842 shares during the last quarter. Trian Fund Management L.P. raised its holdings in Pentair PLC. by 6.0% in the 2nd quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock valued at $1,011,470,000 after acquiring an additional 862,769 shares during the last quarter. BlackRock Inc. raised its holdings in Pentair PLC. by 5.1% in the 2nd quarter. BlackRock Inc. now owns 12,152,997 shares of the industrial products company’s stock valued at $808,662,000 after acquiring an additional 588,818 shares during the last quarter. Sound Shore Management Inc. CT raised its holdings in Pentair PLC. by 8.6% in the 2nd quarter. Sound Shore Management Inc. CT now owns 2,303,860 shares of the industrial products company’s stock valued at $153,299,000 after acquiring an additional 183,299 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in Pentair PLC. by 6.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,465,471 shares of the industrial products company’s stock valued at $97,512,000 after acquiring an additional 83,595 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.
Shares of Pentair PLC. (NYSE:PNR) opened at 70.60 on Tuesday. The firm’s 50-day moving average price is $67.45 and its 200-day moving average price is $65.23. Pentair PLC. has a 12-month low of $53.80 and a 12-month high of $71.44. The company has a market capitalization of $12.81 billion, a PE ratio of 20.78 and a beta of 1.41.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Friday, October 20th will be given a dividend of $0.345 per share. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $1.38 annualized dividend and a dividend yield of 1.95%. Pentair PLC.’s dividend payout ratio (DPR) is presently 40.71%.
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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