Seaport Res Ptn Comments on Pentair plc’s Q3 2024 Earnings (NYSE:PNR)

Pentair plc (NYSE:PNR) – Investment analysts at Seaport Res Ptn reduced their Q3 2024 earnings per share (EPS) estimates for shares of Pentair in a note issued to investors on Tuesday, June 25th. Seaport Res Ptn analyst S. Graham now expects that the industrial products company will post earnings of $1.03 per share for the quarter, down from their previous forecast of $1.08. The consensus estimate for Pentair’s current full-year earnings is $4.24 per share. Seaport Res Ptn also issued estimates for Pentair’s Q4 2024 earnings at $1.01 EPS and Q3 2025 earnings at $1.17 EPS.

Several other research analysts have also recently issued reports on PNR. Royal Bank of Canada lowered their price objective on Pentair from $103.00 to $99.00 and set an “outperform” rating for the company in a research report on Tuesday. KeyCorp lifted their price target on shares of Pentair from $82.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. BNP Paribas began coverage on Pentair in a report on Tuesday, March 12th. They set a “neutral” rating and a $86.00 price objective on the stock. TD Cowen upped their target price on Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Stifel Nicolaus lifted their price target on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $90.71.

Pentair Stock Performance

Shares of PNR stock opened at $76.67 on Thursday. The company has a market cap of $12.73 billion, a P/E ratio of 20.39, a PEG ratio of 1.29 and a beta of 1.22. The firm has a fifty day moving average price of $80.24 and a 200 day moving average price of $77.52. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Pentair has a 12 month low of $57.18 and a 12 month high of $85.84.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be given a $0.23 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.92 dividend on an annualized basis and a yield of 1.20%. Pentair’s payout ratio is currently 24.47%.

Insider Buying and Selling at Pentair

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the sale, the chief executive officer now directly owns 38,538 shares of the company’s stock, valued at approximately $3,254,534.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Pentair

A number of institutional investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC boosted its stake in shares of Pentair by 82.4% during the 4th quarter. Lindbrook Capital LLC now owns 341 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 154 shares in the last quarter. Quent Capital LLC grew its holdings in Pentair by 112.7% in the fourth quarter. Quent Capital LLC now owns 402 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. Operose Advisors LLC purchased a new position in shares of Pentair in the third quarter valued at $34,000. Rational Advisors LLC boosted its position in shares of Pentair by 200.0% in the 1st quarter. Rational Advisors LLC now owns 633 shares of the industrial products company’s stock worth $54,000 after buying an additional 422 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Pentair in the 1st quarter worth about $56,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

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.