Brokers Issue Forecasts for Pentair plc’s Q3 2023 Earnings (NYSE:PNR)

Posted by Defense World Staff on Aug 14th, 2023

Pentair logo

Pentair plc (NYSE:PNR – Free Report) – Zacks Research decreased their Q3 2023 earnings per share estimates for Pentair in a report released on Thursday, August 10th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings per share of $0.86 for the quarter, down from their prior estimate of $0.88. The consensus estimate for Pentair’s current full-year earnings is $3.73 per share. Zacks Research also issued estimates for Pentair’s Q1 2024 earnings at $0.93 EPS, Q2 2024 earnings at $0.99 EPS, FY2024 earnings at $3.89 EPS, Q1 2025 earnings at $1.04 EPS and FY2025 earnings at $4.60 EPS.

Pentair (NYSE:PNR – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Pentair had a net margin of 11.82% and a return on equity of 22.39%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 earnings per share.

PNR has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Pentair in a report on Wednesday, June 28th. They set a “buy” rating and a $75.00 target price for the company. Mizuho increased their price target on shares of Pentair from $65.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Seaport Res Ptn restated a “buy” rating on shares of Pentair in a report on Monday, August 7th. Barclays lifted their price objective on Pentair from $70.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Finally, StockNews.com initiated coverage on Pentair in a research note on Thursday, May 18th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.79.

View Our Latest Analysis on Pentair

Pentair Stock Down 1.5 %

Pentair stock opened at $69.77 on Monday. Pentair has a 52 week low of $38.55 and a 52 week high of $71.82. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.99 and a beta of 1.16. The company’s 50-day moving average price is $64.67 and its two-hundred day moving average price is $58.64. The company has a current ratio of 1.48, a quick ratio of 0.77 and a debt-to-equity ratio of 0.72.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PNR. Global Retirement Partners LLC lifted its holdings in Pentair by 2,605.0% during the 1st quarter. Global Retirement Partners LLC now owns 3,219 shares of the industrial products company’s stock valued at $186,000 after purchasing an additional 3,100 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Pentair by 9.6% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 87,708 shares of the industrial products company’s stock worth $4,848,000 after acquiring an additional 7,683 shares in the last quarter. New York Life Investment Management LLC increased its stake in Pentair by 1.6% in the fourth quarter. New York Life Investment Management LLC now owns 26,356 shares of the industrial products company’s stock valued at $1,185,000 after acquiring an additional 406 shares during the last quarter. Seven Eight Capital LP acquired a new position in Pentair during the fourth quarter valued at approximately $289,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Pentair by 29.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 221,559 shares of the industrial products company’s stock valued at $9,966,000 after purchasing an additional 49,977 shares in the last quarter. Institutional investors and hedge funds own 89.95% of the company’s stock.

Insider Activity at Pentair

In other news, CEO John L. Stauch sold 32,596 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $71.42, for a total transaction of $2,328,006.32. Following the transaction, the chief executive officer now directly owns 7,690 shares in the company, valued at $549,219.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Pentair Company Profile

(Get Free Report)

Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.