Pentair PLC. (PNR) Rating Lowered to Hold at Zacks Investment Research

Pentair PLC. (NYSE:PNR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

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. “

A number of other equities analysts have also weighed in on PNR. Jefferies Group LLC reiterated a “hold” rating and issued a $59.00 price objective on shares of Pentair PLC. in a research report on Thursday, September 21st. BidaskClub lowered shares of Pentair PLC. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Robert W. Baird restated a “hold” rating and set a $70.00 target price on shares of Pentair PLC. in a research report on Wednesday, October 4th. Royal Bank Of Canada restated a “buy” rating and set a $77.00 target price on shares of Pentair PLC. in a research report on Wednesday, July 12th. Finally, Wolfe Research assumed coverage on shares of Pentair PLC. in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $68.15.

Pentair PLC. (NYSE:PNR) opened at 70.42 on Monday. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of 20.73 and a beta of 1.41. The firm’s 50-day moving average is $65.99 and its 200-day moving average is $64.88. Pentair PLC. has a 52 week low of $53.80 and a 52 week high of $71.36.

Pentair PLC. (NYSE:PNR) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.00. Pentair PLC. had a net margin of 12.86% and a return on equity of 13.17%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the company earned $1.11 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts anticipate that Pentair PLC. will post $3.51 earnings per share for the current year.

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In related news, Director Ronald Merriman sold 5,200 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $67.00, for a total value of $348,400.00. Following the completion of the transaction, the director now owns 21,538 shares of the company’s stock, valued at approximately $1,443,046. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Pentair PLC. by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,456 shares of the industrial products company’s stock valued at $829,000 after acquiring an additional 53 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Pentair PLC. by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 16,405 shares of the industrial products company’s stock valued at $1,092,000 after acquiring an additional 54 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Pentair PLC. by 1.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,439 shares of the industrial products company’s stock valued at $295,000 after acquiring an additional 62 shares during the last quarter. Thrivent Financial For Lutherans increased its stake in shares of Pentair PLC. by 1.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 6,319 shares of the industrial products company’s stock valued at $420,000 after acquiring an additional 92 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Pentair PLC. by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the industrial products company’s stock valued at $692,000 after acquiring an additional 100 shares during the last quarter. 85.51% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Pentair PLC. (NYSE:PNR)

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