Pentair (NYSE:PNR) Updates Q3 2022 Earnings Guidance

Pentair (NYSE:PNRGet Rating) issued an update on its third quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.93-$0.95 for the period, compared to the consensus earnings per share 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.

Pentair Trading Down 0.4 %

NYSE PNR traded down $0.20 during trading hours on Friday, hitting $49.10. 1,025,214 shares of the company were exchanged, compared to its average volume of 1,602,597. The stock has a 50-day moving average price of $47.40 and a 200 day moving average price of $52.68. The company has a quick ratio of 0.73, a current ratio of 1.38 and a debt-to-equity ratio of 0.36. Pentair has a 52 week low of $43.60 and a 52 week high of $80.40. The stock has a market cap of $8.07 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10.

Pentair (NYSE:PNRGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The industrial products company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.02. Pentair had a return on equity of 24.60% and a net margin of 13.99%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. Analysts forecast that Pentair will post 3.71 earnings per share for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 5th. Shareholders of record on Friday, July 22nd were given 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 dividend yield of 1.71%. Pentair’s dividend payout ratio (DPR) is presently 24.93%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Cowen dropped their target price on Pentair from $75.00 to $65.00 in a research report on Wednesday, July 27th. The Goldman Sachs Group dropped their target price on Pentair from $89.00 to $77.00 and set a buy rating for the company in a research report on Wednesday, April 13th. Stifel Nicolaus lowered their price target on Pentair from $57.00 to $47.00 in a report on Wednesday, July 20th. Northcoast Research started coverage on Pentair in a report on Friday, July 15th. They issued a neutral rating for the company. Finally, Morgan Stanley lowered their price target on Pentair from $49.00 to $41.00 and set an underweight rating for the company in a report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $64.92.

Hedge Funds Weigh In On Pentair

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

About Pentair

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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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