Pentair (NYSE:PNR) Releases 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 (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.

Pentair Stock Performance

NYSE:PNR traded down $0.20 during mid-day trading on Friday, hitting $49.10. The company’s stock had a trading volume of 1,025,214 shares, compared to its average volume of 1,602,597. The business’s fifty day moving average is $47.40 and its two-hundred day moving average is $52.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.38 and a quick ratio of 0.73. Pentair has a 1 year low of $43.60 and a 1 year high of $80.40. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.39 and a beta of 1.10.

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

Pentair Dividend Announcement

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

Wall Street Analyst Weigh In

PNR has been the topic of several recent analyst reports. Cowen lowered their target price on shares of Pentair from $75.00 to $65.00 in a research note on Wednesday, July 27th. Cowen decreased their price target on shares of Pentair from $75.00 to $65.00 in a research note on Wednesday, July 27th. Stifel Nicolaus decreased their price target on shares of Pentair from $57.00 to $47.00 in a research note on Wednesday, July 20th. The Goldman Sachs Group decreased their price target on shares of Pentair from $89.00 to $77.00 and set a buy rating on the stock in a research note on Wednesday, April 13th. Finally, Northcoast Research started coverage on shares of Pentair in a research note on Friday, July 15th. They issued a neutral rating on the stock. Two 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $64.92.

Institutional Trading of Pentair

A number of hedge funds and other institutional investors have recently made changes to their positions in PNR. Walleye Capital LLC acquired a new stake in Pentair in the 1st quarter valued at approximately $334,000. Virtu Financial LLC acquired a new stake in Pentair in the 1st quarter valued at approximately $442,000. Mirabella Financial Services LLP acquired a new stake in Pentair in the 1st quarter valued at approximately $778,000. Lido Advisors LLC acquired a new stake in Pentair in the 1st quarter valued at approximately $281,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Pentair by 525.1% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,279 shares of the industrial products company’s stock valued at $1,425,000 after purchasing an additional 22,075 shares during the last quarter. Institutional investors and hedge funds own 94.70% of the company’s stock.

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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