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

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

Pentair Price Performance

PNR traded up $2.39 during trading on Friday, reaching $88.50. 1,736,455 shares of the company were exchanged, compared to its average volume of 1,654,663. Pentair has a 12-month low of $57.18 and a 12-month high of $88.96. The company’s 50-day moving average is $79.33 and its two-hundred day moving average is $78.56. The company has a quick ratio of 1.17, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. The company has a market cap of $14.65 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 1.44 and a beta of 1.21.

Pentair Dividend Announcement

The business 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. 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 presently 24.47%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group boosted their target price on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday. TD Cowen raised their price target on shares of Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, KeyCorp lifted their price target on shares of Pentair from $92.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Pentair has a consensus rating of “Moderate Buy” and a consensus target price of $92.87.

Insiders Place Their Bets

In other 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 value of $2,089,884.15. Following the sale, the chief executive officer now directly owns 38,538 shares of the company’s stock, valued at $3,254,534.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by corporate insiders.

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.