Pentair (NYSE:PNR) Announces Earnings Results, Beats Estimates By $0.08 EPS

Pentair (NYSE:PNR) released its earnings results on Tuesday. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08, Briefing.com reports. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Pentair had a return on equity of 20.39% and a net margin of 16.05%. Pentair’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share.

Pentair Price Performance

Shares of NYSE:PNR traded up $2.39 during trading on Friday, hitting $88.50. 1,682,784 shares of the stock were exchanged, compared to its average volume of 1,654,287. The company has a fifty day moving average price of $79.33 and a two-hundred day moving average price of $78.56. The company has a market cap of $14.65 billion, a PE ratio of 23.53, a P/E/G ratio of 1.44 and a beta of 1.21. The company has a current ratio of 1.65, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51. Pentair has a 12-month low of $57.18 and a 12-month high of $88.96.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, July 19th. Pentair’s dividend payout ratio (DPR) is 24.47%.

Insider Transactions at Pentair

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PNR shares. KeyCorp lifted their target price on Pentair from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday. Stifel Nicolaus lifted their target price on Pentair from $100.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup lifted their price target on Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft lifted their target price on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their target price on Pentair from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.87.

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.