Pentair (NYSE:PNR) Issues 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.

Analyst Ratings Changes

A number of analysts recently issued reports on PNR shares. StockNews.com raised Pentair from a hold rating to a buy rating in a research report on Wednesday. Oppenheimer increased 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. Northcoast Research cut shares of Pentair from a buy rating to a neutral rating in a report on Friday, July 19th. KeyCorp lifted their target price on shares of Pentair from $92.00 to $97.00 and gave the stock an overweight rating in a report on Wednesday. Finally, Citigroup increased their target price on Pentair from $85.00 to $101.00 and gave the company a buy rating in a research note on Monday, April 8th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $92.87.

Pentair Stock Up 4.2 %

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

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Pentair had a return on equity of 20.77% and a net margin of 16.05%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. On average, equities analysts expect 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 paid a dividend of $0.23 per share. The ex-dividend date is Friday, July 19th. This represents a $0.92 annualized dividend and a dividend yield of 1.05%. Pentair’s dividend payout ratio is currently 24.47%.

Insider Activity

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 transaction, the chief executive officer now owns 38,538 shares of the company’s stock, 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. Insiders own 1.10% of the company’s stock.

About Pentair

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.