Pentair PLC

PNR: XNYS (USA)
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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
$34.00TfdzqkJdjllyt

Pentair Maintains Solid Momentum in the Second Quarter

Narrow-moat-rated Pentair posted strong second-quarter results, highlighted by a 21% year-over-year increase in adjusted EPS from $0.84 to $1.02. While the pool business is showing no signs of slowing down, with second-quarter sales up 20% year over year, we’ve trimmed our long-term revenue projections estimates given increasingly challenging comparisons to pre-COVID-19 levels. That said, although we’ve reduced our fair value estimate to $65 from $68, we continue to see Pentair as modestly undervalued, with the stock currently trading in 4-star territory.

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