Pentair (NYSE:PNR) Releases Q3 2022 Earnings Guidance

Pentair (NYSE:PNRGet Rating) updated its third quarter 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.93-$0.95 for the period, compared to the consensus estimate of $0.95. The company issued revenue guidance of $998.28M-$1.02 billion, compared to the consensus revenue estimate of $1.03 billion. Pentair also updated its FY 2022 guidance to $3.70-$3.75 EPS.

Analysts Set New Price Targets

Several research firms have recently issued reports on PNR. Barclays raised Pentair from an underweight rating to an equal weight rating and set a $50.00 price objective for the company in a research note on Thursday, June 9th. Stifel Nicolaus lowered their price objective on Pentair from $57.00 to $47.00 in a research note on Wednesday, July 20th. The Goldman Sachs Group lowered their price objective on Pentair from $89.00 to $77.00 and set a buy rating for the company in a research note on Wednesday, April 13th. Cowen lowered their price objective on Pentair from $75.00 to $65.00 in a research note on Wednesday, July 27th. Finally, Cowen decreased their price target on Pentair from $75.00 to $65.00 in a research note on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $64.92.

Pentair Trading Down 0.4 %

PNR traded down $0.20 during trading on Friday, hitting $49.10. 1,025,214 shares of the stock were exchanged, compared to its average volume of 1,602,597. Pentair has a 1 year low of $43.60 and a 1 year high of $80.40. The firm has a 50 day simple moving average of $47.40 and a 200 day simple moving average of $52.68. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 1.39 and a beta of 1.10. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.73 and a current ratio of 1.38.

Pentair (NYSE:PNRGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. Pentair had a return on equity of 24.60% and a net margin of 13.99%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the business posted $0.84 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. As a group, equities analysts expect that Pentair will post 3.71 EPS for the current year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Friday, July 22nd were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $0.84 annualized dividend and a yield of 1.71%. Pentair’s dividend payout ratio (DPR) is 24.93%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Pentair by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 18,837,080 shares of the industrial products company’s stock worth $1,021,158,000 after acquiring an additional 85,431 shares during the period. Invesco Ltd. lifted its position in Pentair by 8.2% during the 1st quarter. Invesco Ltd. now owns 6,346,517 shares of the industrial products company’s stock worth $344,045,000 after acquiring an additional 479,701 shares during the period. Robeco Schweiz AG lifted its position in Pentair by 41.3% during the 1st quarter. Robeco Schweiz AG now owns 2,667,551 shares of the industrial products company’s stock worth $144,608,000 after acquiring an additional 780,043 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Pentair by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,226,123 shares of the industrial products company’s stock worth $66,468,000 after acquiring an additional 39,456 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Pentair by 176.4% during the 1st quarter. Renaissance Technologies LLC now owns 892,164 shares of the industrial products company’s stock worth $48,364,000 after acquiring an additional 569,400 shares during the period. 94.70% of the stock is currently owned by hedge funds and other institutional investors.

Pentair Company Profile

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Pentair plc provides various water solutions worldwide. It operates through Consumer Solutions; and Industrial & Flow Technologies segments. The Consumer Solutions segment designs, 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, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.

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Earnings History and Estimates for Pentair (NYSE:PNR)

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