Pentair (NYSE:PNR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “For 2018, Pentair's earnings per share guidance is at $2.33 and sales outlook at $2.96 billion. Momentum in its segments, productivity improvement and benefits from restructuring actions will aid results. However, material cost inflation is likely to dent margins. Further, headwinds pertaining to the separation of the Electrical business remain. The stock has underperformed the industry over the past year. Nevertheless, it is well positioned to invest in the business backed by strong free cash flow and low debt levels. It continues to introduce new products, make acquisitions and investments in sync with its key growth initiatives of advancing pool growth, and accelerating residential and commercial water treatment. “
PNR has been the subject of a number of other research reports. ValuEngine downgraded shares of Pentair from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 17th. Stifel Nicolaus upped their price objective on shares of Pentair from $44.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Pentair from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $56.08.
Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. The company had revenue of $711.40 million during the quarter, compared to the consensus estimate of $698.88 million. Pentair had a net margin of 11.04% and a return on equity of 16.35%. Pentair’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, equities research analysts forecast that Pentair will post 2.33 earnings per share for the current year.
In other news, Director Glynis Bryan sold 17,133 shares of the stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $45.00, for a total value of $770,985.00. Following the completion of the transaction, the director now owns 35,115 shares in the company, valued at approximately $1,580,175. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in PNR. Gateway Investment Advisers LLC grew its stake in Pentair by 15.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 222,765 shares of the industrial products company’s stock valued at $9,657,000 after acquiring an additional 29,934 shares during the last quarter. Millennium Management LLC grew its stake in Pentair by 215.0% in the 2nd quarter. Millennium Management LLC now owns 251,442 shares of the industrial products company’s stock valued at $10,581,000 after acquiring an additional 171,629 shares during the last quarter. Marshwinds Advisory Co. acquired a new stake in Pentair in the 3rd quarter valued at about $200,000. Great West Life Assurance Co. Can grew its stake in Pentair by 246.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 426,826 shares of the industrial products company’s stock valued at $17,993,000 after acquiring an additional 303,517 shares during the last quarter. Finally, Korea Investment CORP grew its stake in Pentair by 256.4% in the 2nd quarter. Korea Investment CORP now owns 36,002 shares of the industrial products company’s stock valued at $1,515,000 after acquiring an additional 25,900 shares during the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.
Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.
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