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 note issued to investors on Thursday.
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 research analysts have also recently issued reports about the stock. Royal Bank Of Canada restated a “buy” rating and issued a $77.00 price target on shares of Pentair PLC. in a report on Wednesday, July 12th. Morgan Stanley restated an “equal weight” rating and issued a $74.00 price target (up from $70.00) on shares of Pentair PLC. in a report on Monday. Stifel Nicolaus restated a “hold” rating and issued a $67.00 price target on shares of Pentair PLC. in a report on Wednesday. Jefferies Group LLC restated a “hold” rating and issued a $59.00 price target on shares of Pentair PLC. in a report on Thursday, September 21st. Finally, BMO Capital Markets restated a “hold” rating and issued a $70.00 price target on shares of Pentair PLC. in a report on Wednesday, September 6th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Pentair PLC. has a consensus rating of “Hold” and an average target price of $67.92.
Shares of Pentair PLC. (NYSE PNR) traded down 0.81% during trading on Thursday, reaching $69.47. 258,841 shares of the company were exchanged. The stock’s 50-day moving average is $64.13 and its 200-day moving average is $64.43. Pentair PLC. has a 52-week low of $53.80 and a 52-week high of $70.51. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 20.45 and a beta of 1.41.
Pentair PLC. (NYSE:PNR) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 EPS for the quarter, hitting analysts’ consensus estimates of $1.00. The business had revenue of $1.27 billion during 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 business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the company posted $1.11 earnings per share. Equities research analysts predict that Pentair PLC. will post $3.51 earnings per share for the current fiscal 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 transaction of $348,400.00. Following the transaction, the director now directly owns 21,538 shares in the company, valued at $1,443,046. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.90% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its holdings in Pentair PLC. by 126.8% during the second quarter. Huntington National Bank now owns 1,508 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 843 shares during the last quarter. Korea Investment CORP boosted its holdings in Pentair PLC. by 142.7% during the second quarter. Korea Investment CORP now owns 1,602 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 942 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its holdings in Pentair PLC. by 6.5% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,829 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 111 shares during the last quarter. FNY Partners Fund LP purchased a new position in Pentair PLC. during the first quarter worth about $125,000. Finally, Krilogy Financial LLC boosted its holdings in Pentair PLC. by 121.2% during the second quarter. Krilogy Financial LLC now owns 2,281 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 1,250 shares during the last quarter. Institutional investors and hedge funds own 85.59% 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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