Pentair (NYSE:PNR) Issues FY 2024 Earnings Guidance

Pentair (NYSE:PNR) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 4.250-4.250 for the period, compared to the consensus estimate of 4.180. The company issued revenue guidance of $4.1 billion-$4.1 billion, compared to the consensus revenue estimate of $4.2 billion. Pentair also updated its FY24 guidance to ~$4.25 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PNR shares. Oppenheimer increased their price target on Pentair from $90.00 to $92.00 and gave the company an outperform rating in a research report on Tuesday, July 16th. UBS Group increased their target price on Pentair from $83.00 to $91.00 and gave the company a buy rating in a report on Wednesday, April 24th. Stifel Nicolaus lifted their price objective on Pentair from $94.00 to $100.00 and gave the company a buy rating in a research report on Thursday, July 18th. TD Cowen boosted their target price on shares of Pentair from $80.00 to $85.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Finally, Barclays upped their price objective on shares of Pentair from $92.00 to $95.00 and gave the stock an overweight rating in a report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $91.29.

Pentair Price Performance

Shares of NYSE:PNR traded up $6.38 during midday trading on Tuesday, reaching $86.37. The company’s stock had a trading volume of 1,418,251 shares, compared to its average volume of 1,601,441. The business’s fifty day simple moving average is $79.22 and its 200-day simple moving average is $78.34. The company has a market capitalization of $14.34 billion, a P/E ratio of 23.09, a P/E/G ratio of 1.38 and a beta of 1.21. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. Pentair has a fifty-two week low of $57.18 and a fifty-two week high of $87.74.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.08. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business posted $1.03 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Pentair will post 4.2 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, July 19th. Pentair’s payout ratio is 24.47%.

Insider Activity at Pentair

In other Pentair news, CEO Jerome O. Pedretti sold 24,747 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $84.45, for a total transaction of $2,089,884.15. Following the completion of the transaction, the chief executive officer now owns 38,538 shares in the company, valued at approximately $3,254,534.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently 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.