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Pentair to Acquire Taco Group for $1.4 Billion

Pentair (PNR) said Tuesday that it has signed a definitive agreement to acquire Taco Group for approximately $1.4 billion.Taco Group is a manufacturer of hydronic heating, plumbing, industrial pumping and water-based HVAC equipment.Pentair said Taco is expected to generate approximately $540 million in revenue in fiscal year 2026, and that the deal is expected to be approximately $0.10 to $0.15 accretive to adjusted earnings per diluted share in fiscal year 2027.The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions and regulatory approvals.Shares of Pentair were down 6% pre-bell.

Pentair's Anticipated Q2 Earnings Miss, 2026 Guidance Cut Largely Pool-Driven, Oppenheimer Says

Pentair (PNR) anticipated Q2 adjusted earnings below its guidance and cut its full-year outlook on account of weakness in its Pool segment, with channel destocking exceeding prior assumptions along with somewhat worsening demand conditions, Oppenheimer said in a note Wednesday.For Q2, the destocking is expected to cut Pool segment sales by $170 million and income by $105 million, while for 2026, the destocking is estimated to cut sales and income by about $250 million and $150 million, respectively, the brokerage said.Pentair now estimates Q2 sales of about $930 million and adjusted earnings per share of about $1.12, below its prior guidance for $1.47 to $1.50. For 2026, the company lowered sales guidance to down about 4% to 7%, while adjusted EPS is expected to be between $4.60 and 4.80, compared with previous outlook range of $5.30 to 5.40, according to the note.Oppenheimer said it now expects 2026 and 2027 EPS of $4.72 and $5.35, compared with $5.35 and $5.90 previously, and sees upside potential from residential demand recovery, mix-accretive commercial sales outgrowth, and strategic capital deployment.Oppenheimer maintained its outperform rating on Pentair and lowered its price target to $94 from $115.Shares of Pentair were up more than 2% in Thursday trading.Price: $65.83, Change: $+1.50, Percent Change: +2.32%

Oppenheimer Adjusts Price Target on Pentair to $94 From $115, Maintains Outperform Rating

Pentair (PNR) has an average rating of overweight and mean price target of $84.79, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $64.68, Change: $+0.35, Percent Change: +0.54%

Research14d ago

Stifel Downgrades Pentair to Hold From Buy, Adjusts Price Target to $65 From $103

Pentair (PNR) has an average rating of overweight and mean price target of $88.13, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Update: Wall Street Extends Gains on Further Signs of Cooling Inflation

US Markets14d ago

Update: Wall Street Extends Gains on Further Signs of Cooling Inflation

(Updates with market moves at the end of the day.)US equities rose Wednesday, driving major indexes higher for a second straight day as traders digested another softer-than-expected inflation report.The Nasdaq Composite closed 0.6% higher at 26,269.2, while the S&P 500 advanced 0.4% to 7,572.4. The Dow Jones Industrial Average added 0.3% to settle at 52,658.6. Among sectors, communication services saw the biggest gain, while utilities led the laggards.Technology giant Apple (AAPL) was the best performer on the Dow, up 4%. The iPhone maker has held talks with bankers in recent months about possible acquisitions of chip companies, The Information reported, citing unnamed sources.Other tech majors also advanced, with Alphabet's (GOOGL) class A shares, Amazon.com (AMZN), and Microsoft (MSFT) following Apple on the Dow as the top performers.In economic news, US producer prices unexpectedly dropped on a monthly basis in June amid a steep decline in the cost of energy products, official data showed."We expect to see another weak reading for the July (producer prices index), even though global oil prices have moved higher in the past week," Oxford Economics said in a note.On Tuesday, government data showed that US consumer prices decreased last month for the first time in more than six years amid lower energy costs."While still nominally elevated at a dangerously high level, the relative improvement in inflation in June emboldens the more dovish argument that price pressures are already cooling and could retreat further into year-end as the lingering impact from tariffs falls off and energy prices potentially normalize amid -- still tentative -- but ongoing, US-Iran peace negotiations," Stifel said in a note Wednesday.The probability that the Fed will leave its benchmark lending rate unchanged later this month rose to nearly 90% Wednesday from 84% Tuesday, according to the CME FedWatch tool.Inflation should ease in the next few quarters as energy prices are expected to trend back closer to where they were before the US-Iran war began, New York Fed President John Williams said.Inflation is more likely to accelerate than cool given price pressures arising from an artificial intelligence boom and major supply shocks, Federal Reserve Governor Lisa Cook said. Separately, New York Fed President John Williams said that inflation should ease in the next few quarters as energy prices retreat.West Texas Intermediate crude oil was up 1.2% at $80.29 a barrel in Wednesday late-afternoon trade, while Brent rose 1.3% to $85.80.The US military conducted fresh strikes on Iran on Wednesday as tensions flare over the Strait of Hormuz, the world's most important chokepoint for crude flows, the US Central Command said.US Treasury yields were lower, with the two-year rate down 5.2 basis points at 4.14% and the 10-year rate falling 3.2 basis points to 4.55%.In other company news, PayPal (PYPL) shares jumped 17%, the top gainer on the S&P 500, after Reuters reported that Stripe and Advent International have offered to acquire PayPal in a deal that would value the payments giant at more than $53 billion.Pentair (PNR) shares slid 15%, the worst performer on the S&P 500. The water treatment company late Tuesday reported preliminary second-quarter results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.Gold edged down 0.2% to $4,060.80 per troy ounce, while silver lost 1.6% to $58.17 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$GOOGL$MSFT$PNR$PYPL

US Equity Markets End Higher After Unexpected Decline in Producer Price Index

US equity indexes closed higher Wednesday after an unexpected drop in producer prices.* The US producer price index fell 0.3% in June following a 0.6% increase in May, below the flat consensus in a Bloomberg survey.* The US intensified airstrikes against Iran following Tehran's attacks on ships attempting to pass through the Strait of Hormuz, the Associated Press reported.* August West Texas Intermediate crude oil rose $0.92 to settle at $80.26 per barrel, while September Brent crude, the global benchmark, was last seen up $1.02 at $85.75.* Payments firm Stripe and Advent International offered to acquire PayPal (PYPL) for $60.50 a share in a deal valuing the company at more than $53 billion, Reuters reported. PayPal shares jumped 17%, the top gainer on the S&P 500.* Pentair (PNR) shares fell 15%, the biggest drop on the S&P, a day after the company reported preliminary Q2 results below market estimates and lowered its full-year outlook.

Dow JonesNasdaq CompositeS&P 500$PNR$PYPL

Top Midday Decliners

Pentair (PNR) reported preliminary Q2 results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.Pentair CFO Nick Brazis' unexpected departure, just four months after his appointment, adds near-term skepticism on the stock, RBC said in a note. RBC downgraded the stock to sector perform from outperform.Shares slumped 14%, with intraday trading volume rising to more than 8.5 million from a daily average of about 2.3 million.Elevance Health (ELV) reported sequential and annual declines in membership for Q2, although the health insurer lifted its full-year earnings outlook and recorded an unexpected year-over-year revenue increase.Shares declined 8.7% as intraday trading volume jumped to over 2.4 million from a daily average of about 1.7 million.Evercore ISI cut its Progressive's (PGR) price target to $230 from $240 following the release of the company's Q2 results.Shares declined 9%, with intraday trading volume of over 3.8 million against a daily average of roughly 3.1 million.Price: $64.49, Change: $-11.19, Percent Change: -14.79%

Equity Markets Rise Intraday as Big Tech Gains

US Markets15d ago

Equity Markets Rise Intraday as Big Tech Gains

US benchmark equity indexes were higher intraday, aided by certain mega-cap technology stocks, as traders parsed the latest inflation data.The Nasdaq Composite was up 0.5% at 26,246.1 after midday Wednesday, while the S&P 500 advanced 0.3% to 7,568.2. The Dow Jones Industrial Average rose 0.2% to 52,620.4. Among sectors, communication services saw the biggest gain, while energy led the laggards.Tech giant Apple (AAPL) was the best performer on the Dow, up 4%. The iPhone maker has held talks with bankers in recent months about possible deals for chip companies, The Information reported, citing unnamed sources.Other tech majors Alphabet's (GOOGL) class A shares, Amazon.com (AMZN), and Microsoft (MSFT) followed Apple on the Dow as the top performers.In economic news, US producer prices unexpectedly dropped on a monthly basis in June amid a steep decline in the cost of energy products, official data showed."We expect to see another weak reading for the July (producer prices index), even though global oil prices have moved higher in the past week," Oxford Economics said in a note.On Tuesday, government data showed that US consumer prices decreased last month for the first time in more than six years amid lower energy costs."While still nominally elevated at a dangerously high level, the relative improvement in inflation in June emboldens the more dovish argument that price pressures are already cooling and could retreat further into year-end as the lingering impact from tariffs falls off and energy prices potentially normalize amid -- still tentative -- but ongoing, US-Iran peace negotiations," Stifel said in a note Wednesday.The probability that the Fed will leave its benchmark lending rate unchanged later this month rose to nearly 90% Wednesday from 84% Tuesday, according to the CME FedWatch tool.Inflation should ease in the next few quarters as energy prices are expected to trend back closer to where they were before the US-Iran war began, New York Fed President John Williams said.West Texas Intermediate crude oil was down 0.4% at $78.99 a barrel intraday, while Brent dropped 0.3% to $84.45.The US military conducted fresh strikes on Iran for 90 minutes, as tensions flare over the Strait of Hormuz, the world's most important chokepoint for crude flows, CNN reported Wednesday, citing the US Central Command.US Treasury yields were lower intraday, with the two-year rate down 6.1 basis points at 4.13% and the 10-year rate falling 3.8 basis points to 4.55%.In other company news, PayPal (PYPL) shares jumped 16%, the top gainer on the S&P 500, after Reuters reported that Stripe and Advent International have offered to acquire PayPal in a deal that would value the payments giant at more than $53 billion.Pentair (PNR) shares slid 15%, the worst performer on the S&P 500. The water treatment company late Tuesday reported preliminary second-quarter results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.Gold edged down 0.7% to $4,042.70 per troy ounce, while silver lost 3.2% to $57.22 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$GOOGL$MSFT$PNR$PYPL

Pentair CFO's Unexpected Departure Adds Near-Term Uncertainty, RBC Says

Pentair (PNR) chief financial officer Nick Brazis' unexpected departure, just four months after his appointment, adds near-term skepticism on the stock, RBC Capital Markets analysts said in a note emailed Wednesday.Analysts said that the company's preliminary Q2 results missed consensus estimates in every key metric by a wide margin.RBC said that there is rising concern that distributors are carrying more lower-cost Chinese pool pumps rather than Pentair's higher-margin product.Also, some investors believe the company's 80/20 initiative and customer refocusing may have affected certain channel relationships, analysts said.RBC downgraded the stock's rating to sector perform from outperform and lowered its price target to $74 from $101.Price: $63.37, Change: $-12.31, Percent Change: -16.27%

Baird Adjusts Price Target on Pentair to $83 From $110, Maintains Outperform Rating

Pentair (PNR) has an average rating of overweight and mean price target of $93.64, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $62.96, Change: $-12.72, Percent Change: -16.81%

Commodities15d ago

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Wednesday Amid Economic Reports

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.4% in Wednesday's premarket activity, amid economic data releases.US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.02%, and Nasdaq futures gaining 0.4% before the start of regular trading.Mortgage applications fell by 2.7% in the week ended July 10 as higher 30-year mortgage rates depressed new home applications, while refinancing activity improved, according to Mortgage Bankers Association data released Wednesday.The New York Federal Reserve's Empire State manufacturing index rose to 15.6 in July from 5.7 in June, compared with a smaller expected increase to a reading of 9.2 in a survey compiled by Bloomberg.US producer prices fell 0.3% in June, compared with expectations for no change, while core producer prices rose 0.2%, below forecasts for a 0.3% increase.Fed Chair Kevin Warsh begins his second day of testimony at 10:00 am ET.Weekly crude oil stocks data are set for release at 10:30 am ET, followed by an appearance byNew York Fed President John Williams and Fed Governor Lisa Cook are slated to speak on Wednesday.The Fed's Beige Book report will be released at 2:00 pm ET.In premarket action, bitcoin was up by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher, Ether ETF (EETH) advanced 0.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated 0.01%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, the Vanguard Industrials Index Fund (VIS) rose 1%, while the iShares US Industrials ETF (IYJ) was inactive.Pentair (PNR) stock fell more than 21% before the opening bell after the water treatment company reported preliminary Q2 results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.1% lower.BlackRock (BLK) shares traded up more than 4% in early hours activity after Bloomberg reported the company is in discussions over providing about $45 million in private credit to Indian e-commerce platform Udaan as part of a proposed $160 million funding package.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.6%, and the iShares US Technology ETF (IYW) was 0.2% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 1.1%, while the iShares Semiconductor ETF (SOXX) rose by 1.4%.ASML (ASML) shares were up more than 3% in premarket activity after the company reported year-over-year growth in Q2 earnings and sales and raised revenue guidance for the full-year 2026.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) retreated 0.01%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was up 1.2%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.Lucid (LCID) shares were down more than 2% pre-bell after dropping more than 16% in Tuesday's regular session following rumors of a potential bankruptcy filing that the company quashed.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) declined 0.6%, the Vanguard Health Care Index Fund (VHT) was down 0.3%, while the iShares US Healthcare ETF (IYH) slipped 0.3%. The iShares Biotechnology ETF (IBB) was up 0.2%.Merck (MRK) stock was up more than 1% premarket after the company said a phase 3 trial of its therapy, Keytruda, met the primary endpoint of progression-free survival in patients with mismatch repair-deficient advanced or recurrent endometrial cancer.EnergyThe iShares US Energy ETF (IYE) was down 2.5%, while the State Street Energy Select Sector SPDR ETF (XLE) retreated by 0.1%.Oceaneering International (OII) stock was up nearly 1% before market open after the company and Kongsberg were selected by the US Department of War's Defense Innovation Unit to support the US Navy's vision for scalable uncrewed undersea platforms.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 0.6% to $79.82 per barrel on the New York Mercantile Exchange. Natural gas was down by 0.2% to $2.90 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 0.1%, while the United States Natural Gas Fund (UNG) was 0.9% lower.Gold futures for July gained 0.8% to $4,035.90 an ounce on the Comex. Silver futures retreated by 1.4% to $58.28 an ounce. SPDR Gold Shares (GLD) decreased 0.4%, and the iShares Silver Trust (SLV) was 1.2% lower.

Dow JonesNasdaq CompositeS&P 500$ASML$BETH$BITO$BLK$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LCID$MRK$OII$PMR$PNR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Research15d ago

Seaport Global Downgrades Pentair to Neutral From Buy

Pentair (PNR) has an average rating of overweight and mean price target of $95.73, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Pentair Shares Fall Amid Downbeat Preliminary Second-Quarter Results

US Markets15d ago

Pentair Shares Fall Amid Downbeat Preliminary Second-Quarter Results

Pentair (PNR) shares fell early Wednesday after the water treatment company reported preliminary second-quarter results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.The company expects adjusted earnings of about $1.12 a share for the second quarter, below its previously issued outlook range of $1.47 to $1.50, it said late Tuesday. The current consensus on FactSet is for $1.16. Sales are pegged to be down 17% to roughly $930 million versus prior guidance for a gain of 1%, while the Street is looking for $1.12 billion.The stock fell 19% in the most recent premarket activity.For 2026, the company now forecasts adjusted EPS of $4.60 to $4.80, down from its previous guidance of $5.30 to $5.40. Sales are projected to be down 4% to 7%, compared with the prior outlook for 2% to 4% growth. The current average analyst estimate is for non-GAAP EPS of $4.62 and sales of $4.25 billion.Second-quarter performance was hurt by lower pool sales, mainly due to a larger-than-expected inventory realignment with major channel partners and worsening business conditions. The company aims to tackle these challenges by strengthening its relationships with channel partners, including dealers and distribution partners, accelerating the development of new products and improving its technical support solutions."We believe these headwinds are temporary and we are taking decisive actions to adapt the business to current demand levels while positioning it to return to normalized performance in 2027," Chief Executive John Stauch said in a statement. "We are confident that these actions will bring us closer to our dealers, accelerate innovation and drive long-term growth."Pentair anticipates its flow and water solutions businesses to perform "roughly in line" with its guidance for the second quarter and full year. It plans to release its full second-quarter results later this month.In the same statement, Pentair said Bob Fishman has returned to the company as interim chief financial officer, effective immediately. Fishman, who left the CFO role in March, will take over from Nicholas Brazis, who departed the company last week to pursue another opportunity at a private company.

Research15d ago

RBC Downgrades Pentair to Sector Perform From Outperform, Cuts Price Target to $74 From $101

Pentair (PNR) has an average rating of overweight and mean price target of $97.47, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Research21d ago

Wolfe Research Downgrades Pentair to Peer Perform From Outperform

Pentair (PNR) has an average rating of overweight and mean price target of $103.28, according to analysts polled by FactSet.

Research91d ago

Research Alert: CFRA Maintains Strong Buy Rating On Shares Of Pentair Plc

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We trim our 12-month target price to $115 from $130 following PNR's Q1 earnings print, valuing shares at 19.5x our 2027 EPS outlook of $5.91 (revised down by $0.01; 2026 EPS view in line with previous forecast), slightly above the company's historical multiple average. We see the premium being justified given PNR's portfolio diversification efforts within the water technology space that we see reducing earnings volatility. While Q1 performance was in line with our own expectations, organic sales expansion was a point of concern as management warned of impending channel inventory corrections within the Pools business. Given that this segment is a leader in profitability, any declines in sales/mix could weigh on overall margin results. Despite Pool headwinds, we see PNR's margin trajectory remaining in an uptrend as Flow and Water Solutions build on margin gains through targeted productivity programs and pricing. We see Q1 headwinds being baked into shares and reiterate our Strong Buy view.

Pentair Stock Decline on Potential Inventory Destocking 'Overdone,' RBC Says

Pentair (PNR) shares fell 10% following the company's Q1 earnings report on Tuesday but the sell off, tied to warnings of a potential inventory destocking, was "overdone," RBC Capital Markets said.During the company's earnings call, Pentair disclosed expectations for its Pool channel partners to execute an inventory reduction in Q2 and Q3, which stems from a lowered industry volume forecast, especially for high-end discretionary products, the RBC analysts said. Pentair explained that recent price actions had prompted distributors to stock up, the analysts said.The stock price decline was also driven by H2-weighted guidance and concerns over residential and consumer spending, according to the note.However, Pentair continues its strong execution on productivity initiatives, margin improvement, and new product introductions, fueling a streak of 16 consecutive quarters of margin expansion, the analysts noted. They said that they have not observed any execution issues or missteps.RBC maintained the company's stock rating at outperform and lowered the price target to $101 from $107.Price: $81.36, Change: $-1.50, Percent Change: -1.81%

Northcoast Research Adjusts Pentair Price Target to $106 From $120, Maintains Buy Rating

Pentair (PNR) has an average rating of overweight and mean price target of $103.28, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $81.74, Change: $-1.12, Percent Change: -1.35%

Mizuho Securities Adjusts Pentair Price Target to $100 From $122, Maintains Outperform Rating

Pentair (PNR) has an average rating of overweight and mean price target of $103.28, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $81.57, Change: $-1.29, Percent Change: -1.56%

Seaport Global Securities Adjusts Pentair Price Target to $125 From $130, Maintains Buy Rating

Pentair (PNR) has an average rating of overweight and mean price target of $103.28, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $81.61, Change: $-1.25, Percent Change: -1.51%

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