Pentair (NYSE:PNR) Releases FY24 Earnings Guidance

Pentair (NYSE:PNR) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of ~$4.25 for the period, compared to the consensus estimate of $4.18. The company issued revenue guidance of ~$4.06-$4.10 billion, compared to the consensus revenue estimate of $4.19 billion. Pentair also updated its FY 2024 guidance to 4.250-4.250 EPS.

Analysts Set New Price Targets

PNR has been the subject of several recent research reports. Citigroup lifted their price target on Pentair from $85.00 to $101.00 and gave the stock a buy rating in a research report on Monday, April 8th. UBS Group boosted their target price on Pentair from $83.00 to $91.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Royal Bank of Canada boosted their price objective on shares of Pentair from $99.00 to $101.00 and gave the company an outperform rating in a research report on Wednesday. Oppenheimer lifted their price target on shares of Pentair from $92.00 to $98.00 and gave the stock an outperform rating in a research note on Wednesday. Finally, StockNews.com raised shares of Pentair from a hold rating to a buy rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $92.87.

Pentair Stock Performance

Shares of PNR traded up $3.52 during trading hours on Thursday, hitting $87.32. The stock had a trading volume of 893,212 shares, compared to its average volume of 1,638,173. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90. Pentair has a fifty-two week low of $57.18 and a fifty-two week high of $88.47. The firm has a 50-day moving average price of $79.28 and a 200 day moving average price of $78.51. The firm has a market capitalization of $14.50 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.51 and a beta of 1.21.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) 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 net margin of 16.05% and a return on equity of 20.77%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. As a group, research analysts anticipate that Pentair will post 4.25 EPS for the current year.

Pentair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, July 19th. Pentair’s payout ratio is 24.47%.

Insiders Place Their Bets

In other news, CEO Jerome O. Pedretti sold 24,747 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total value of $2,089,884.15. Following the completion of the sale, the chief executive officer now directly owns 38,538 shares in the company, valued at $3,254,534.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.