KeyCorp Analysts Reduce Earnings Estimates for Pentair PLC. (PNR)

Pentair PLC. (NYSE:PNR) – Stock analysts at KeyCorp decreased their Q3 2017 earnings per share (EPS) estimates for Pentair PLC. in a note issued to investors on Tuesday. KeyCorp analyst J. Hammond now forecasts that the industrial products company will post earnings per share of $0.92 for the quarter, down from their previous forecast of $0.93. KeyCorp has a “Overweight” rating and a $77.00 price objective on the stock.

PNR has been the subject of a number of other reports. BMO Capital Markets restated a “hold” rating and set a $61.00 price objective on shares of Pentair PLC. in a research report on Wednesday, April 26th. Royal Bank Of Canada restated a “buy” rating and set a $77.00 price objective on shares of Pentair PLC. in a research report on Tuesday, June 6th. Zacks Investment Research upgraded Pentair PLC. from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, June 6th. Wolfe Research started coverage on Pentair PLC. in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, Jefferies Group LLC raised their price objective on Pentair PLC. from $58.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Pentair PLC. presently has an average rating of “Hold” and a consensus price target of $66.86.

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Pentair PLC. (PNR) opened at 62.37 on Thursday. The firm has a market capitalization of $11.37 billion, a PE ratio of 22.70 and a beta of 1.40. Pentair PLC. has a one year low of $53.80 and a one year high of $69.03. The stock has a 50 day moving average of $65.86 and a 200-day moving average of $62.86.

Pentair PLC. (NYSE:PNR) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, meeting analysts’ consensus estimates of $1.00. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 EPS.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Friday, July 21st will be paid a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Wednesday, July 19th. Pentair PLC.’s dividend payout ratio (DPR) is presently 40.71%.

In related news, insider Trian Fund Management, L.P. acquired 863,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average cost of $65.25 per share, with a total value of $56,310,750.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edward P. Garden acquired 398,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was bought at an average cost of $65.13 per share, for a total transaction of $25,921,740.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,726,000 shares of company stock valued at $112,619,140 and have sold 237,500 shares valued at $15,706,725. 9.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mcrae Capital Management Inc. increased its position in shares of Pentair PLC. by 10.3% in the first quarter. Mcrae Capital Management Inc. now owns 28,532 shares of the industrial products company’s stock worth $1,791,000 after buying an additional 2,665 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Pentair PLC. by 4.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 46,649 shares of the industrial products company’s stock worth $2,932,000 after buying an additional 2,100 shares during the last quarter. Addison Capital Co bought a new position in shares of Pentair PLC. during the first quarter worth $540,000. UBS Asset Management Americas Inc. increased its position in shares of Pentair PLC. by 5.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,197,607 shares of the industrial products company’s stock worth $67,149,000 after buying an additional 58,957 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Pentair PLC. by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 144,138 shares of the industrial products company’s stock worth $9,049,000 after buying an additional 4,398 shares during the last quarter. 86.28% of the stock is currently owned by institutional investors and hedge funds.

About Pentair PLC.

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.

Earnings History and Estimates for Pentair PLC. (NYSE:PNR)

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