Pentair (NYSE:PNR) Issues Q3 Earnings Guidance

Pentair (NYSE:PNR) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $1.06-1.08 for the period, compared to the consensus EPS estimate of $1.07. Pentair also updated its FY 2024 guidance to 4.250-4.250 EPS.

Pentair Stock Up 2.7 %

Shares of NYSE PNR opened at $86.08 on Friday. The stock has a market cap of $14.25 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.44 and a beta of 1.21. The firm has a 50 day moving average price of $79.33 and a 200 day moving average price of $78.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 1.65. Pentair has a 52-week low of $57.18 and a 52-week high of $88.47.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. Analysts expect that Pentair will post 4.3 EPS for the current year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, July 19th. Pentair’s payout ratio is 24.47%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PNR. UBS Group upped their price target on shares of Pentair from $83.00 to $91.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. StockNews.com raised shares of Pentair from a hold rating to a buy rating in a research report on Wednesday. Royal Bank of Canada upped their price target on shares of Pentair from $99.00 to $101.00 and gave the stock an outperform rating in a research report on Wednesday. Oppenheimer upped their price target on shares of Pentair from $92.00 to $98.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, The Goldman Sachs Group upped their price target on shares of Pentair from $85.00 to $93.00 and gave the stock a neutral rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pentair has a consensus rating of Moderate Buy and an average target price of $92.87.

Insiders Place Their Bets

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the sale, the chief executive officer now directly owns 38,538 shares in the company, valued at $3,254,534.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Pentair Company Profile

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.