Pentair (NYSE:PNR) Releases FY 2022 Earnings Guidance

Pentair (NYSE:PNRGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.70-$3.75 for the period, compared to the consensus estimate of $3.71. The company issued revenue guidance of $4.07 billion-$4.14 billion, compared to the consensus revenue estimate of $4.12 billion. Pentair also updated its Q3 2022 guidance to $0.93-$0.95 EPS.

Pentair Stock Performance

NYSE:PNR traded down $0.20 during mid-day trading on Friday, reaching $49.10. 1,025,214 shares of the company’s stock were exchanged, compared to its average volume of 1,602,597. Pentair has a one year low of $43.60 and a one year high of $80.40. The firm has a market capitalization 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. The business’s fifty day simple moving average is $47.40 and its two-hundred day simple moving average is $52.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.73 and a current ratio of 1.38.

Pentair (NYSE:PNRGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The industrial products company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the firm earned $0.84 earnings per share. Pentair’s revenue for the quarter was up 13.1% compared to the same quarter last year. Analysts anticipate that Pentair will post 3.71 earnings per share for the current fiscal year.

Pentair Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Pentair from $49.00 to $41.00 and set an underweight rating on the stock in a report on Friday, July 15th. Mizuho decreased their target price on shares of Pentair from $54.00 to $48.00 in a report on Monday, July 18th. The Goldman Sachs Group reduced 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. Cowen reduced their price target on shares of Pentair from $75.00 to $65.00 in a research note on Wednesday, July 27th. Finally, Northcoast Research initiated coverage on shares of Pentair in a research note on Friday, July 15th. They issued a neutral rating on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $64.92.

Institutional Trading of Pentair

Institutional investors have recently made changes to their positions in the company. Brinker Capital Investments LLC boosted its holdings in shares of Pentair by 3.5% in the 1st quarter. Brinker Capital Investments LLC now owns 5,995 shares of the industrial products company’s stock worth $325,000 after buying an additional 204 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Pentair by 1.9% in the 1st quarter. Moors & Cabot Inc. now owns 11,408 shares of the industrial products company’s stock worth $618,000 after buying an additional 214 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Pentair by 0.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 126,084 shares of the industrial products company’s stock worth $7,146,000 after buying an additional 322 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Pentair by 25.7% in the 1st quarter. Mackenzie Financial Corp now owns 4,223 shares of the industrial products company’s stock worth $229,000 after buying an additional 863 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new position in shares of Pentair in the 1st quarter worth about $56,000. Institutional investors own 94.70% of the company’s stock.

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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