Pentair (NYSE:PNR) Issues 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 Price Performance

Pentair stock traded down $0.20 during mid-day trading on Friday, hitting $49.10. 1,025,214 shares of the company were exchanged, compared to its average volume of 1,602,597. Pentair has a 12-month low of $43.60 and a 12-month high of $80.40. The company has a market capitalization of $8.07 billion, a P/E ratio of 14.57, a PEG ratio of 1.39 and a beta of 1.10. The business’s 50 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 current ratio of 1.38 and a quick ratio of 0.73.

Pentair (NYSE:PNRGet Rating) last announced its earnings results on Tuesday, July 26th. The industrial products company reported $1.02 earnings per share for the quarter, beating 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 firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. Analysts forecast that Pentair will post 3.71 earnings per share for the current fiscal year.

Pentair Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Stifel Nicolaus dropped their target price on Pentair from $57.00 to $47.00 in a research note on Wednesday, July 20th. The Goldman Sachs Group cut their price objective on shares of Pentair from $89.00 to $77.00 and set a buy rating on the stock in a report on Wednesday, April 13th. Morgan Stanley lowered their target price on shares of Pentair from $49.00 to $41.00 and set an underweight rating for the company in a report on Friday, July 15th. Northcoast Research initiated coverage on shares of Pentair in a research note on Friday, July 15th. They set a neutral rating on the stock. Finally, Mizuho lowered their price objective on shares of Pentair from $54.00 to $48.00 in a research note on Monday, July 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Pentair presently has a consensus rating of Hold and a consensus target price of $64.92.

Institutional Trading of Pentair

Several large investors have recently bought and sold shares of the company. Ancora Advisors LLC acquired a new stake in shares of Pentair during the first quarter valued at about $56,000. First Republic Investment Management Inc. purchased a new position in Pentair in the first quarter valued at about $203,000. Lumature Wealth Partners LLC purchased a new stake in Pentair during the 1st quarter worth approximately $213,000. Mackenzie Financial Corp raised its position 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 valued at $229,000 after purchasing an additional 863 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Pentair by 25.0% during the 1st quarter. Federated Hermes Inc. now owns 4,577 shares of the industrial products company’s stock valued at $249,000 after buying an additional 916 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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