Pentair PLC. (PNR) Downgraded by Zacks Investment Research

Pentair PLC. (NYSE:PNR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a 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.”

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus restated a “hold” rating and issued a $67.00 price target on shares of Pentair PLC. in a research note on Wednesday, October 4th. Cowen and Company restated an “underperform” rating and issued a $61.00 price target (up previously from $59.00) on shares of Pentair PLC. in a research note on Monday, October 2nd. KeyCorp restated a “buy” rating and issued a $77.00 price target on shares of Pentair PLC. in a research note on Thursday, October 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price objective (up from $69.00) on shares of Pentair PLC. in a research report on Wednesday, July 26th. Finally, Bank of America Corporation reaffirmed a “sell” rating and set a $65.00 price objective on shares of Pentair PLC. in a research report on Wednesday, July 26th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $70.92.

Pentair PLC. (PNR) traded down $0.25 during trading on Thursday, reaching $68.02. 656,000 shares of the company traded hands, compared to its average volume of 982,161. Pentair PLC. has a 12-month low of $55.76 and a 12-month high of $71.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.59 and a quick ratio of 1.05. The firm has a market cap of $12,397.65, a P/E ratio of 20.20, a PEG ratio of 1.81 and a beta of 1.40.

Pentair PLC. (NYSE:PNR) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.02. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Pentair PLC. had a net margin of 12.50% and a return on equity of 13.39%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. research analysts predict that Pentair PLC. will post 3.53 earnings per share for the current year.

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In other Pentair PLC. news, Director Ronald Merriman sold 5,200 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $67.00, for a total transaction of $348,400.00. Following the transaction, the director now owns 21,538 shares of the company’s stock, valued at $1,443,046. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William T. Monahan sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $70.27, for a total transaction of $702,700.00. Following the transaction, the director now directly owns 50,656 shares in the company, valued at approximately $3,559,597.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,586 shares of company stock worth $1,850,853. Company insiders own 9.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Pentair PLC. by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,456 shares of the industrial products company’s stock valued at $829,000 after purchasing an additional 53 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Pentair PLC. by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 16,405 shares of the industrial products company’s stock worth $1,092,000 after acquiring an additional 54 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Pentair PLC. by 1.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,439 shares of the industrial products company’s stock worth $295,000 after acquiring an additional 62 shares in the last quarter. Thrivent Financial For Lutherans grew its holdings in Pentair PLC. by 1.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 6,319 shares of the industrial products company’s stock worth $420,000 after acquiring an additional 92 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in Pentair PLC. by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the industrial products company’s stock worth $692,000 after acquiring an additional 100 shares in the last quarter. 84.56% of the stock is owned by 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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Analyst Recommendations for Pentair PLC. (NYSE:PNR)

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