Pentair plc (NYSE:PNR) announced a quarterly dividend on Tuesday, May 4th, RTT News reports. Shareholders of record on Friday, July 23rd will be paid a dividend of 0.20 per share by the industrial products company on Friday, August 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%.
Pentair has decreased its dividend by 44.9% over the last three years and has raised its dividend every year for the last 45 years. Pentair has a payout ratio of 27.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Pentair to earn $2.69 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 29.7%.
Shares of NYSE:PNR traded up $1.05 during trading on Tuesday, reaching $66.40. The stock had a trading volume of 1,117,881 shares, compared to its average volume of 1,081,249. The company has a quick ratio of 0.69, a current ratio of 1.18 and a debt-to-equity ratio of 0.39. The stock has a fifty day simple moving average of $62.54 and a two-hundred day simple moving average of $56.15. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 31.56, a P/E/G ratio of 2.64 and a beta of 1.19. Pentair has a 52 week low of $31.50 and a 52 week high of $66.60.
PNR has been the subject of a number of research analyst reports. Oppenheimer upped their price target on Pentair from $57.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, January 14th. UBS Group lifted their price target on shares of Pentair from $50.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, January 15th. Morgan Stanley increased their price objective on shares of Pentair from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Monday, April 26th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of Pentair from $73.00 to $78.00 in a research report on Friday, April 23rd. Finally, Barclays increased their price target on shares of Pentair from $55.00 to $57.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Pentair has a consensus rating of “Hold” and a consensus price target of $59.27.
Pentair plc provides various smart water solutions worldwide. It operates through two segments, Consumer Solutions; and Industrial & Flow Technologies. The Consumer Solutions segment designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.
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