Brokerages Expect Pentair PLC (PNR) Will Announce Quarterly Sales of $700.28 Million

Wall Street brokerages expect Pentair PLC (NYSE:PNR) to announce $700.28 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Pentair’s earnings, with estimates ranging from $694.00 million to $710.30 million. Pentair posted sales of $1.23 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 43.1%. The business is scheduled to report its next earnings results before the market opens on Tuesday, October 23rd.

On average, analysts expect that Pentair will report full year sales of $2.95 billion for the current fiscal year, with estimates ranging from $2.93 billion to $2.97 billion. For the next financial year, analysts anticipate that the company will post sales of $3.04 billion, with estimates ranging from $2.99 billion to $3.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Pentair.

Pentair (NYSE:PNR) last released its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Pentair had a net margin of 10.12% and a return on equity of 15.19%. The business had revenue of $780.60 million for the quarter, compared to analyst estimates of $786.63 million. During the same quarter last year, the firm earned $1.00 EPS. Pentair’s quarterly revenue was up 3.5% compared to the same quarter last year.

PNR has been the topic of a number of research reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $48.00 price target on shares of Pentair in a research note on Friday, July 13th. Seaport Global Securities reaffirmed a “buy” rating and issued a $48.00 price target on shares of Pentair in a research note on Friday, July 27th. Zacks Investment Research raised shares of Pentair from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Monday, July 30th. TheStreet lowered shares of Pentair from a “b” rating to a “c+” rating in a research note on Thursday, June 21st. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $44.00 price target on shares of Pentair in a research note on Friday, July 20th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Pentair has an average rating of “Hold” and a consensus price target of $56.00.

PNR traded down $0.20 during trading on Friday, reaching $39.00. The company had a trading volume of 1,515,386 shares, compared to its average volume of 1,662,715. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.89 and a current ratio of 1.40. Pentair has a 12 month low of $38.36 and a 12 month high of $50.25. The firm has a market cap of $7.60 billion, a P/E ratio of 11.05, a PEG ratio of 1.88 and a beta of 1.34.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 2nd. Stockholders of record on Friday, October 19th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.79%. Pentair’s dividend payout ratio (DPR) is presently 19.83%.

In other news, Director Glynis Bryan sold 17,133 shares of Pentair stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $45.00, for a total value of $770,985.00. Following the sale, the director now directly owns 35,115 shares in the company, valued at $1,580,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Trian Fund Management, L.P. sold 1,700,000 shares of Pentair stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $42.15, for a total transaction of $71,655,000.00. Following the completion of the sale, the director now owns 2,862 shares in the company, valued at $120,633.30. The disclosure for this sale can be found here. 10.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PNR. Cambridge Investment Research Advisors Inc. increased its holdings in Pentair by 39.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,302 shares of the industrial products company’s stock worth $293,000 after buying an additional 1,224 shares during the last quarter. First Republic Investment Management Inc. increased its holdings in Pentair by 26.8% during the first quarter. First Republic Investment Management Inc. now owns 8,455 shares of the industrial products company’s stock worth $576,000 after buying an additional 1,787 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Pentair by 2.6% during the first quarter. PNC Financial Services Group Inc. now owns 89,854 shares of the industrial products company’s stock worth $6,120,000 after buying an additional 2,308 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Pentair by 12.0% during the first quarter. Russell Investments Group Ltd. now owns 31,096 shares of the industrial products company’s stock worth $2,114,000 after buying an additional 3,344 shares during the last quarter. Finally, BB&T Securities LLC increased its holdings in Pentair by 67.8% during the first quarter. BB&T Securities LLC now owns 100,486 shares of the industrial products company’s stock worth $6,845,000 after buying an additional 40,598 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

Pentair Company Profile

Pentair plc provides various smart water solutions worldwide. It designs, manufactures, and services various products and solutions to meet filtration, separation, flow, and water management challenges. The company's products and services include water treatment equipment, including energy-efficient pumps, point-of-entry/point-of-use filtration products, valves, UV sanitization, and automation controls for residential and commercial applications, as well as engineered solutions in advanced filtration, desalination, water supply and disposal, process, and control for industrial and infrastructure applications.

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