Pentair (NYSE:PNR) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

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

Pentair Stock Performance

Shares of Pentair stock traded up $2.39 during trading hours on Friday, reaching $88.50. The company’s stock had a trading volume of 1,736,455 shares, compared to its average volume of 1,654,663. The company’s 50 day simple moving average is $79.33 and its 200 day simple moving average is $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 one year low of $57.18 and a one year high of $88.96. The stock has a market cap of $14.65 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.44 and a beta of 1.21.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given 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 dividend yield of 1.04%. Pentair’s payout ratio is currently 24.47%.

Insider Transactions at Pentair

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the firm’s stock in a transaction dated 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 directly owns 38,538 shares in the company, valued at approximately $3,254,534.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PNR shares. The Goldman Sachs Group raised their price target on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday. Royal Bank of Canada raised their price target on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday. Oppenheimer raised their price target on shares of Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.