Pentair (NYSE:PNR) Updates FY 2022 Earnings Guidance

Pentair (NYSE:PNRGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $3.70-$3.75 for the period, compared to the consensus earnings per share estimate of $3.71. The company issued revenue guidance of $4.07 billion-$4.14 billion, compared to the consensus revenue estimate of $4.12 billion. Pentair also updated its Q3 2022 guidance to $0.93-$0.95 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Mizuho lowered their price target on shares of Pentair from $54.00 to $48.00 in a report on Monday, July 18th. Barclays raised shares of Pentair from an underweight rating to an equal weight rating and set a $50.00 price target on the stock in a report on Thursday, June 9th. Northcoast Research assumed coverage on shares of Pentair in a report on Friday, July 15th. They issued a neutral rating on the stock. The Goldman Sachs Group reduced their price objective on shares of Pentair from $89.00 to $77.00 and set a buy rating for the company in a research note on Wednesday, April 13th. Finally, Cowen reduced their price objective on shares of Pentair from $75.00 to $65.00 in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $64.92.

Pentair Trading Down 0.4 %

PNR stock traded down $0.20 during trading on Friday, reaching $49.10. The company had a trading volume of 1,025,214 shares, compared to its average volume of 1,602,597. Pentair has a 52 week low of $43.60 and a 52 week high of $80.40. The company has a market cap of $8.07 billion, a P/E ratio of 14.57, a PEG ratio of 1.39 and a beta of 1.10. The business has a 50 day moving average of $47.40 and a 200 day moving average of $52.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.38 and a quick ratio of 0.73.

Pentair (NYSE:PNRGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. Pentair had a net margin of 13.99% and a return on equity of 24.60%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. Pentair’s revenue was up 13.1% on a year-over-year basis. As a group, sell-side analysts forecast that Pentair will post 3.71 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Shareholders of record on Friday, July 22nd were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, July 21st. Pentair’s dividend payout ratio (DPR) is presently 24.93%.

Institutional Investors Weigh In On Pentair

Institutional investors have recently made changes to their positions in the company. Ancora Advisors LLC purchased a new stake in shares of Pentair during the first quarter valued at approximately $56,000. First Republic Investment Management Inc. bought a new position in Pentair during the first quarter valued at approximately $203,000. Lumature Wealth Partners LLC bought a new position in Pentair in the first quarter worth approximately $213,000. Mackenzie Financial Corp raised its position in Pentair by 25.7% in the first quarter. Mackenzie Financial Corp now owns 4,223 shares of the industrial products company’s stock worth $229,000 after acquiring an additional 863 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of Pentair by 25.0% during the 1st quarter. Federated Hermes Inc. now owns 4,577 shares of the industrial products company’s stock valued at $249,000 after purchasing an additional 916 shares during the period. Hedge funds and other institutional investors own 94.70% of the company’s stock.

Pentair Company Profile

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Pentair plc provides various water solutions worldwide. It operates through Consumer Solutions; and Industrial & Flow Technologies segments. The Consumer Solutions segment designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.

Further Reading

Earnings History and Estimates for Pentair (NYSE:PNR)

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