Pentair (NYSE:PNR) Releases Q3 2024 Earnings Guidance

Pentair (NYSE:PNR) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.060-1.080 for the period, compared to the consensus earnings per share estimate of 1.070. The company issued revenue guidance of $978.5 million-$988.6 million, compared to the consensus revenue estimate of $1.1 billion. Pentair also updated its FY 2024 guidance to 4.250-4.250 EPS.

Pentair Stock Performance

Shares of PNR traded down $1.20 on Wednesday, reaching $85.99. The company’s stock had a trading volume of 1,165,144 shares, compared to its average volume of 1,621,427. The stock’s 50 day simple moving average is $79.30 and its two-hundred day simple moving average is $78.47. The stock has a market capitalization of $14.28 billion, a P/E ratio of 23.00, a PEG ratio of 1.40 and a beta of 1.21. Pentair has a 12-month low of $57.18 and a 12-month high of $88.47. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. Research analysts forecast that Pentair will post 4.2 earnings per share for the current fiscal year.

Pentair Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Northcoast Research downgraded shares of Pentair from a buy rating to a neutral rating in a report on Friday, July 19th. Citigroup increased their target price on Pentair from $85.00 to $101.00 and gave the company a buy rating in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Pentair from $90.00 to $98.00 and gave the company a buy rating in a research report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Pentair from $100.00 to $101.00 and gave the company a buy rating in a research report on Wednesday. Finally, TD Cowen increased their price target on Pentair from $80.00 to $85.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $92.60.

Insider Buying and Selling

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

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.