Pentair falls after Barclays highlights sluggish sales post meeting

After meeting with management, Barclays said the sales environment for Pentair (PNR) remains sluggish. Pentair’s comments on a sluggish sales environment for the consumer carries some warning for other residential exposed multi-industry companies such as Allegion (ALLE), Carrier Global (CARR), Lennox (LII), Regal Rexnord (RRX), Stanley Black & Decker (SWK) and Trane (TT), the analyst tells investors in a research note. The firm says the broad consumer environment is currently weaker than previously expected at the turn of the year for Pentair. However, in Q2, pool demand for the company is “playing out as expected,” adds Barclays. Shares of Pentair are down 4% to $79.50 in midday trading.