Pentair plc to Post Q1 2024 Earnings of $0.89 Per Share, Zacks Research Forecasts (NYSE:PNR)

Pentair plc (NYSE:PNR) – Investment analysts at Zacks Research dropped their Q1 2024 earnings per share (EPS) estimates for Pentair in a research note issued to investors on Tuesday, April 16th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings per share of $0.89 for the quarter, down from their prior estimate of $0.90. The consensus estimate for Pentair’s current full-year earnings is $4.21 per share.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The company had revenue of $984.60 million during the quarter, compared to analysts’ expectations of $975.36 million. During the same period last year, the business earned $0.82 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis.

A number of other research analysts have also recently issued reports on PNR. Mizuho lifted their price target on Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Barclays lifted their price objective on Pentair from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. KeyCorp lifted their price objective on Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Stifel Nicolaus lifted their price objective on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, Citigroup lifted their price objective on Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.33.

Pentair Stock Performance

Pentair stock opened at $79.15 on Wednesday. The stock has a 50-day simple moving average of $79.86 and a 200 day simple moving average of $71.30. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.62. Pentair has a 12-month low of $51.38 and a 12-month high of $85.81. The stock has a market capitalization of $13.14 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 1.53 and a beta of 1.20.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. Pentair’s dividend payout ratio is presently 24.53%.

Hedge Funds Weigh In On Pentair

Institutional investors and hedge funds have recently modified their holdings of the business. Nordea Investment Management AB grew its position in shares of Pentair by 191.8% in the 4th quarter. Nordea Investment Management AB now owns 70,424 shares of the industrial products company’s stock valued at $5,122,000 after purchasing an additional 46,290 shares during the period. Vanguard Group Inc. lifted its stake in Pentair by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,882,068 shares of the industrial products company’s stock valued at $1,287,364,000 after acquiring an additional 204,416 shares in the last quarter. Vest Financial LLC lifted its stake in Pentair by 31.7% in the 4th quarter. Vest Financial LLC now owns 450,602 shares of the industrial products company’s stock valued at $32,763,000 after acquiring an additional 108,560 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Pentair by 8.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 348,573 shares of the industrial products company’s stock valued at $25,299,000 after acquiring an additional 27,122 shares in the last quarter. Finally, Prudential PLC bought a new stake in Pentair in the 3rd quarter valued at approximately $566,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

About Pentair

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.