Pentair PLC. (NYSE:PNR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, October 16th.
According to Zacks, “Pentair has guided its full-year 2017 adjusted earnings per share (EPS) guidance of around $3.50 including the negative impact of incremental costs caused by the spin-off of its Electrical business. The company guided third-quarter adjusted EPS guidance range of 91–93 cents and adjusted core sales to grow roughly 4% for the quarter. Going forward, its focus on reorganization activities will fuel growth. The company will also gain from strong performance of the Aquatic & Environmental Systems business. However, lingering weakness in the Engineered Pump businesses, Thermal business and Telecom business, strengthening of the U.S. dollar, as well as price volatility for raw materials remain headwinds. Further, Pentair has underperformed its industry’s performance with respect to share price, year to date. “
Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Pentair PLC. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. KeyCorp reiterated a “buy” rating and issued a $77.00 price objective on shares of Pentair PLC. in a research report on Thursday, October 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $74.00 price objective (up previously from $70.00) on shares of Pentair PLC. in a research report on Monday, October 2nd. Cowen and Company restated an “underperform” rating and set a $61.00 target price (up previously from $59.00) on shares of Pentair PLC. in a research report on Monday, October 2nd. Finally, Wolfe Research began coverage on Pentair PLC. in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Pentair PLC. currently has a consensus rating of “Hold” and an average target price of $70.00.
Shares of Pentair PLC. (NYSE PNR) traded down 1.45% during midday trading on Monday, hitting $70.13. 890,721 shares of the stock were exchanged. The firm has a market cap of $12.73 billion, a PE ratio of 20.64 and a beta of 1.41. Pentair PLC. has a 12-month low of $53.80 and a 12-month high of $71.65. The firm has a 50-day moving average price of $67.80 and a 200 day moving average price of $65.33.
Pentair PLC. (NYSE:PNR) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.02. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Pentair PLC. had a return on equity of 13.39% and a net margin of 12.50%. Pentair PLC.’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.78 EPS. Analysts predict that Pentair PLC. will post $3.51 earnings per share for the current fiscal year.
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In other news, Director Ronald Merriman sold 5,200 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $67.00, for a total value of $348,400.00. Following the sale, the director now directly owns 21,538 shares in the company, valued at $1,443,046. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.90% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Pentair PLC. by 2.5% during the second quarter. Vanguard Group Inc. now owns 16,159,434 shares of the industrial products company’s stock worth $1,075,249,000 after acquiring an additional 392,842 shares in the last quarter. Trian Fund Management L.P. raised its stake in Pentair PLC. by 6.0% in the second quarter. Trian Fund Management L.P. now owns 15,200,931 shares of the industrial products company’s stock valued at $1,011,470,000 after buying an additional 862,769 shares during the period. BlackRock Inc. raised its stake in Pentair PLC. by 5.1% in the second quarter. BlackRock Inc. now owns 12,152,997 shares of the industrial products company’s stock valued at $808,662,000 after buying an additional 588,818 shares during the period. Clearbridge Investments LLC raised its stake in Pentair PLC. by 16.1% in the first quarter. Clearbridge Investments LLC now owns 6,133,909 shares of the industrial products company’s stock valued at $385,087,000 after buying an additional 850,370 shares during the period. Finally, Sound Shore Management Inc. CT raised its stake in Pentair PLC. by 8.6% in the second quarter. Sound Shore Management Inc. CT now owns 2,303,860 shares of the industrial products company’s stock valued at $153,299,000 after buying an additional 183,299 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.
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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