Pentair (NYSE:PNR) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Pentair (NYSE:PNR) in a report released on Friday morning, The Fly reports. The firm issued a hold rating on the industrial products company’s stock. Jefferies Financial Group also issued estimates for Pentair’s Q3 2019 earnings at $0.55 EPS, Q4 2019 earnings at $0.61 EPS, FY2019 earnings at $2.28 EPS, Q1 2020 earnings at $0.54 EPS, Q2 2020 earnings at $0.73 EPS, Q3 2020 earnings at $0.59 EPS, Q4 2020 earnings at $0.66 EPS, FY2020 earnings at $2.52 EPS, Q1 2021 earnings at $0.59 EPS, Q2 2021 earnings at $0.79 EPS, FY2021 earnings at $2.75 EPS and FY2022 earnings at $2.97 EPS.

Other analysts also recently issued reports about the stock. ValuEngine upgraded shares of Pentair from a sell rating to a hold rating in a report on Thursday, August 1st. Morgan Stanley lifted their price target on shares of Pentair from $39.00 to $40.00 and gave the company an equal weight rating in a report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $45.17.

Shares of PNR stock opened at $36.98 on Friday. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 3.15 and a beta of 1.18. Pentair has a one year low of $34.50 and a one year high of $45.70. The company’s fifty day moving average price is $36.49 and its 200-day moving average price is $38.21. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.47 and a quick ratio of 0.91.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The company had revenue of $799.50 million for the quarter, compared to the consensus estimate of $790.62 million. Pentair had a net margin of 12.54% and a return on equity of 21.15%. Pentair’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 EPS. Equities research analysts expect that Pentair will post 2.33 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC increased its holdings in Pentair by 166.8% in the 2nd quarter. Janus Henderson Group PLC now owns 266,755 shares of the industrial products company’s stock valued at $9,924,000 after acquiring an additional 166,776 shares during the last quarter. Blackhawk Capital Partners LLC. grew its stake in shares of Pentair by 49.2% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 13,271 shares of the industrial products company’s stock worth $494,000 after buying an additional 4,376 shares in the last quarter. Fort L.P. grew its stake in shares of Pentair by 39.1% in the 1st quarter. Fort L.P. now owns 54,308 shares of the industrial products company’s stock worth $2,417,000 after buying an additional 15,261 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Pentair by 46.2% in the 1st quarter. Rockefeller Capital Management L.P. now owns 16,632 shares of the industrial products company’s stock worth $740,000 after buying an additional 5,255 shares in the last quarter. Finally, Summit Global Investments purchased a new position in shares of Pentair in the 1st quarter worth $1,213,000. Institutional investors own 85.76% of the company’s stock.

Pentair Company Profile

Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment manufactures and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, pool repair, renovation, service and construction, and aquaculture solution applications.

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