Zacks Investment Research lowered shares of Pentair PLC. (NYSE:PNR) from a buy rating to a hold rating in a research report sent to investors on Monday.
According to Zacks, “Pentair has guided its full-year 2017 adjusted earnings per share (EPS) guidance of around $3.50 including the negative impact of incremental costs caused by the spin-off of its Electrical business. The company guided third-quarter adjusted EPS guidance range of 91–93 cents and adjusted core sales to grow roughly 4% for the quarter. Going forward, its focus on reorganization activities will fuel growth. The company will also gain from strong performance of the Aquatic & Environmental Systems business. However, lingering weakness in the Engineered Pump businesses, Thermal business and Telecom business, strengthening of the U.S. dollar, as well as price volatility for raw materials remain headwinds. Further, Pentair has underperformed its industry’s performance with respect to share price, year to date. “
A number of other brokerages have also issued reports on PNR. BidaskClub lowered Pentair PLC. from a hold rating to a sell rating in a research note on Thursday, July 27th. KeyCorp reaffirmed a buy rating and issued a $77.00 price objective on shares of Pentair PLC. in a research note on Thursday, October 12th. Morgan Stanley reaffirmed an equal weight rating and issued a $74.00 price objective (up from $70.00) on shares of Pentair PLC. in a research note on Monday, October 2nd. Cowen and Company reaffirmed an underperform rating and issued a $61.00 price objective (up from $59.00) on shares of Pentair PLC. in a research note on Monday, October 2nd. Finally, Wolfe Research assumed coverage on Pentair PLC. in a research note on Tuesday, July 11th. They issued a market perform rating on the stock. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. Pentair PLC. currently has a consensus rating of Hold and a consensus price target of $68.15.
Pentair PLC. (NYSE:PNR) opened at 70.71 on Monday. The firm has a 50-day moving average of $66.95 and a 200-day moving average of $65.07. Pentair PLC. has a 52-week low of $53.80 and a 52-week high of $71.36. The firm has a market cap of $12.83 billion, a PE ratio of 20.82 and a beta of 1.41.
Pentair PLC. (NYSE:PNR) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.00. Pentair PLC. had a return on equity of 13.17% and a net margin of 12.86%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $1.11 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. Equities analysts anticipate that Pentair PLC. will post $3.51 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Friday, October 20th will be given a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, October 19th. Pentair PLC.’s dividend payout ratio (DPR) is presently 40.71%.
In related news, Director Ronald Merriman sold 5,200 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $67.00, for a total transaction of $348,400.00. Following the transaction, the director now directly owns 21,538 shares of the company’s stock, valued at approximately $1,443,046. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Swiss National Bank increased its holdings in Pentair PLC. by 2.8% during the 2nd quarter. Swiss National Bank now owns 629,157 shares of the industrial products company’s stock worth $41,864,000 after purchasing an additional 17,400 shares during the last quarter. Jane Street Group LLC purchased a new stake in Pentair PLC. during the 1st quarter worth approximately $4,016,000. Victory Capital Management Inc. increased its holdings in Pentair PLC. by 29.9% during the 1st quarter. Victory Capital Management Inc. now owns 4,964 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 1,143 shares during the last quarter. Trian Fund Management L.P. increased its holdings in Pentair PLC. by 6.0% during the 2nd quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock worth $1,011,470,000 after purchasing an additional 862,769 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in Pentair PLC. by 8.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 611,177 shares of the industrial products company’s stock worth $40,668,000 after purchasing an additional 46,856 shares during the last quarter. Institutional investors own 85.51% of the company’s stock.
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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