Pentair (NYSE:PNR) Updates Q3 Earnings Guidance

Pentair (NYSE:PNR) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $1.06-1.08 for the period, compared to the consensus earnings per share estimate of $1.07. Pentair also updated its FY 2024 guidance to 4.250-4.250 EPS.

Pentair Price Performance

Shares of Pentair stock traded down $0.76 during trading on Wednesday, hitting $86.43. 891,155 shares of the company’s stock traded hands, compared to its average volume of 1,619,484. The company has a market cap of $14.35 billion, a PE ratio of 22.94, a PEG ratio of 1.40 and a beta of 1.21. The firm’s fifty day moving average price is $79.30 and its 200 day moving average price is $78.47. Pentair has a twelve month low of $57.18 and a twelve month high of $88.47. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts forecast that Pentair will post 4.2 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, July 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.06%. Pentair’s payout ratio is presently 24.47%.

Analyst Ratings Changes

PNR has been the subject of a number of recent analyst reports. Oppenheimer increased their target price on shares of Pentair from $92.00 to $98.00 and gave the stock an outperform rating in a research report on Wednesday. UBS Group raised their price objective on shares of Pentair from $83.00 to $91.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Citigroup boosted their target price on Pentair from $85.00 to $101.00 and gave the stock a buy rating in a report on Monday, April 8th. Northcoast Research cut Pentair from a buy rating to a neutral rating in a report on Friday, July 19th. Finally, Stifel Nicolaus boosted their price objective on Pentair from $100.00 to $101.00 and gave the stock a buy rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $92.14.

Insider Buying and Selling at Pentair

In other news, CEO Jerome O. Pedretti sold 24,747 shares of Pentair stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the sale, the chief executive officer now owns 38,538 shares in the company, valued at approximately $3,254,534.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% 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.