Pentair PLC. (NYSE:PNR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, November 2nd.
According to Zacks, “Pentair’s third-quarter 2017 earnings surged around 22%, while sales inched up 1%, both on a year-over-year basis. Earnings beat the Zacks Consensus Estimate, while sales came in line with the Consensus mark. The company raised its full-year 2017 adjusted EPS guidance to $3.53 and reaffirmed the revenue guidance of $4.9 billion. The company also expects its adjusted core sales to grow approximately 2%. It also guided fourth-quarter 2017 adjusted EPS of 93 cents, up around 19% year over year. The company is poised to grow on its focus on reorganization activities, which includes the spin-off its Electrical business. However, Pentair’s Aquatic Systems will bear the burnt of the impact of recent Hurricanes. Material and other cost inflation, declines in project orders, particularly within the energy and infrastructure businesses will hurt results. Pentair underperformed the industry with respect to price over the past year.”
PNR has been the subject of several other reports. BMO Capital Markets restated a “hold” rating and issued a $70.00 price objective on shares of Pentair PLC. in a report on Wednesday, September 6th. KeyCorp reiterated a “buy” rating and issued a $77.00 price target on shares of Pentair PLC. in a research note on Thursday, October 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $77.00 price target on shares of Pentair PLC. in a research note on Wednesday, July 12th. Morgan Stanley restated an “equal weight” rating and set a $70.00 price objective (up from $69.00) on shares of Pentair PLC. in a research note on Wednesday, July 26th. Finally, Jefferies Group LLC restated a “hold” rating and set a $59.00 price objective on shares of Pentair PLC. in a research note on Friday, July 14th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $70.92.
Shares of Pentair PLC. (NYSE:PNR) opened at $69.35 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.59. Pentair PLC. has a twelve month low of $55.76 and a twelve month high of $71.65. The firm has a market cap of $12,430.00, a P/E ratio of 20.25, a P/E/G ratio of 1.82 and a beta of 1.40.
Pentair PLC. (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.02. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Pentair PLC. had a net margin of 12.50% and a return on equity of 13.39%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. analysts forecast that Pentair PLC. will post 3.53 earnings per share for the current fiscal year.
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In other Pentair PLC. news, Director William T. Monahan sold 10,000 shares of Pentair PLC. stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $70.27, for a total transaction of $702,700.00. Following the completion of the transaction, the director now directly owns 50,656 shares of the company’s stock, valued at $3,559,597.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karl R. Frykman sold 11,386 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $70.24, for a total transaction of $799,752.64. Following the sale, the insider now directly owns 36,476 shares of the company’s stock, valued at $2,562,074.24. The disclosure for this sale can be found here. Insiders sold 210,247 shares of company stock worth $14,266,336 in the last 90 days. 9.90% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in Pentair PLC. in the third quarter worth about $1,215,000. Smith Shellnut Wilson LLC ADV purchased a new stake in Pentair PLC. in the third quarter worth about $268,000. Belpointe Asset Management LLC purchased a new stake in Pentair PLC. in the third quarter worth about $413,000. Neuberger Berman Group LLC lifted its stake in Pentair PLC. by 5.4% in the third quarter. Neuberger Berman Group LLC now owns 644,196 shares of the industrial products company’s stock worth $43,780,000 after acquiring an additional 33,019 shares during the period. Finally, Griffin Asset Management Inc. purchased a new stake in Pentair PLC. in the third quarter worth about $461,000. 85.21% of the stock is owned by hedge funds and other institutional investors.
About Pentair PLC.
Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.
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