Pentair PLC. (PNR) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Pentair PLC. (NYSE:PNR) from a buy rating to a hold rating in a research report report published on Thursday.

According to Zacks, “Pentair’s third-quarter 2017 earnings surged around 22%, while sales inched up 1%, both on a year-over-year basis. Earnings beat the Zacks Consensus Estimate, while sales came in line with the Consensus mark. The company raised its full-year 2017 adjusted EPS guidance to $3.53 and reaffirmed the revenue guidance of $4.9 billion. The company also expects its adjusted core sales to grow approximately 2%. It also guided fourth-quarter 2017 adjusted EPS of 93 cents, up around 19% year over year. The company is poised to grow on its focus on reorganization activities, which includes the spin-off its Electrical business. However, Pentair’s Aquatic Systems will bear the burnt of the impact of recent Hurricanes. Material and other cost inflation, declines in project orders, particularly within the energy and infrastructure businesses will hurt results. Pentair underperformed the industry with respect to price over the past year.”

Several other equities analysts have also weighed in on PNR. Stifel Nicolaus reiterated a hold rating and issued a $76.00 target price (up from $75.00) on shares of Pentair PLC. in a report on Wednesday, October 25th. Seaport Global Securities reiterated a buy rating on shares of Pentair PLC. in a report on Wednesday, October 25th. BMO Capital Markets boosted their target price on shares of Pentair PLC. from $78.00 to $79.00 and gave the company a market perform rating in a report on Wednesday, October 25th. Robert W. Baird boosted their target price on shares of Pentair PLC. from $70.00 to $74.00 and gave the company a neutral rating in a report on Wednesday, October 25th. Finally, BidaskClub lowered shares of Pentair PLC. from a sell rating to a strong sell rating in a report on Saturday, August 5th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Pentair PLC. has an average rating of Hold and a consensus target price of $70.00.

Pentair PLC. (PNR) traded up $0.10 during trading hours on Thursday, reaching $69.36. 838,821 shares of the company’s stock traded hands, compared to its average volume of 936,968. The company has a quick ratio of 1.05, a current ratio of 1.59 and a debt-to-equity ratio of 0.30. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.86 and a beta of 1.40. Pentair PLC. has a 12 month low of $54.02 and a 12 month high of $71.65.

Pentair PLC. (NYSE:PNR) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Pentair PLC. had a net margin of 12.50% and a return on equity of 13.39%. Pentair PLC.’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 EPS. sell-side analysts anticipate that Pentair PLC. will post 3.53 EPS for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Friday, October 20th were paid a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, October 19th. Pentair PLC.’s payout ratio is currently 65.71%.

In related news, Director William T. Monahan sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $70.27, for a total transaction of $702,700.00. Following the sale, the director now directly owns 50,656 shares of the company’s stock, valued at approximately $3,559,597.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald Merriman sold 5,200 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $67.00, for a total transaction of $348,400.00. Following the sale, the director now directly owns 21,538 shares in the company, valued at $1,443,046. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,586 shares of company stock worth $1,850,853. 9.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC increased its position in shares of Pentair PLC. by 5.1% in the 1st quarter. Teachers Advisors LLC now owns 264,569 shares of the industrial products company’s stock valued at $16,610,000 after purchasing an additional 12,858 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of Pentair PLC. by 6.9% in the 1st quarter. Thrivent Financial For Lutherans now owns 6,227 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 400 shares during the last quarter. Catawba Capital Management VA increased its position in shares of Pentair PLC. by 45.3% in the 2nd quarter. Catawba Capital Management VA now owns 41,291 shares of the industrial products company’s stock valued at $2,748,000 after purchasing an additional 12,871 shares during the last quarter. Trust Co increased its position in shares of Pentair PLC. by 3.6% in the 1st quarter. Trust Co now owns 20,311 shares of the industrial products company’s stock valued at $1,275,000 after purchasing an additional 705 shares during the last quarter. Finally, Fox Run Management L.L.C. increased its position in shares of Pentair PLC. by 31.7% in the 2nd quarter. Fox Run Management L.L.C. now owns 5,400 shares of the industrial products company’s stock valued at $359,000 after purchasing an additional 1,300 shares during the last quarter. 85.70% of the stock is currently owned by hedge funds and other institutional investors.

Pentair PLC. Company Profile

Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.

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