Pentair PLC. (NYSE:PNR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Pentair’s third-quarter 2017 earnings surged around 22%, while sales inched up 1%, both on a year-over-year basis. Earnings beat the Zacks Consensus Estimate, while sales came in line with the Consensus mark. The company raised its full-year 2017 adjusted EPS guidance to $3.53 and reaffirmed the revenue guidance of $4.9 billion. The company also expects its adjusted core sales to grow approximately 2%. It also guided fourth-quarter 2017 adjusted EPS of 93 cents, up around 19% year over year. The company is poised to grow on its focus on reorganization activities, which includes the spin-off its Electrical business. However, Pentair’s Aquatic Systems will bear the burnt of the impact of recent Hurricanes. Material and other cost inflation, declines in project orders, particularly within the energy and infrastructure businesses will hurt results. Pentair underperformed the industry with respect to price over the past year.”

Several other research analysts have also recently weighed in on PNR. Wolfe Research started coverage on shares of Pentair PLC. in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $77.00 price target on shares of Pentair PLC. in a report on Wednesday, July 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $59.00 price target on shares of Pentair PLC. in a report on Friday, July 14th. Stifel Nicolaus reiterated a “hold” rating and issued a $68.00 price target 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 price target on shares of Pentair PLC. in a report on Wednesday, July 26th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $70.00.

Pentair PLC. (NYSE:PNR) last issued its quarterly earnings data on Tuesday, October 24th. 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. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Pentair PLC. had a net margin of 12.50% and a return on equity of 13.39%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 earnings per share.

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In other news, Director Ronald Merriman sold 5,200 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $67.00, for a total value of $348,400.00. Following the sale, the director now owns 21,538 shares of the company’s stock, valued at $1,443,046. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 9.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of PNR. Huntington National Bank raised its position in Pentair PLC. by 126.8% during the second quarter. Huntington National Bank now owns 1,508 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 843 shares in the last quarter. FineMark National Bank & Trust raised its position in Pentair PLC. by 0.6% during the second quarter. FineMark National Bank & Trust now owns 1,775 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 11 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Pentair PLC. by 82.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,842 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 833 shares in the last quarter. Korea Investment CORP raised its position in Pentair PLC. by 142.7% during the second quarter. Korea Investment CORP now owns 1,602 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 942 shares in the last quarter. Finally, Citizens Financial Group Inc RI raised its position in Pentair PLC. by 1,057.1% during the first quarter. Citizens Financial Group Inc RI now owns 2,268 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 2,072 shares in the last quarter. 85.70% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Pentair PLC. (NYSE:PNR)

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