Pentair plc Plans Quarterly Dividend of $0.23 (NYSE:PNR)

Pentair plc (NYSE:PNR) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Investors of record on Friday, July 19th will be paid a dividend of 0.23 per share by the industrial products company on Friday, August 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, July 19th.

Pentair has raised its dividend payment by an average of 5.0% annually over the last three years and has increased its dividend every year for the last 6 years. Pentair has a payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pentair to earn $4.79 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 19.2%.

Pentair Trading Up 1.4 %

PNR stock traded up $1.14 during mid-day trading on Tuesday, hitting $83.02. 1,361,494 shares of the company were exchanged, compared to its average volume of 1,618,919. Pentair has a 12-month low of $55.26 and a 12-month high of $85.81. The firm has a market capitalization of $13.78 billion, a P/E ratio of 21.78, a PEG ratio of 1.37 and a beta of 1.24. The business has a fifty day simple moving average of $80.99 and a 200-day simple moving average of $72.79. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.63.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the business earned $0.91 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts predict that Pentair will post 4.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on PNR. Bank of America upgraded shares of Pentair from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $46.00 to $76.00 in a report on Thursday, January 11th. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. The Goldman Sachs Group reiterated a “neutral” rating and set a $91.00 price target on shares of Pentair in a report on Friday, March 22nd. TD Cowen boosted their price target on shares of Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, BNP Paribas assumed coverage on shares of Pentair in a research report on Tuesday, March 12th. They set a “neutral” rating and a $86.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.93.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.