Pentair plc (NYSE:PNR) to Issue $0.22 Quarterly Dividend

Pentair plc (NYSE:PNR) declared a quarterly dividend on Monday, September 18th, RTT News reports. Stockholders of record on Friday, October 20th will be given a dividend of 0.22 per share by the industrial products company on Friday, November 3rd. This represents a $0.88 annualized dividend and a dividend yield of 1.31%.

Pentair has raised its dividend payment by an average of 5.3% annually over the last three years and has raised its dividend annually for the last 48 consecutive years. Pentair has a payout ratio of 20.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pentair to earn $4.23 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 20.8%.

Pentair Trading Up 0.4 %

Shares of NYSE:PNR opened at $67.13 on Tuesday. The company has a market cap of $11.08 billion, a PE ratio of 22.53, a P/E/G ratio of 1.90 and a beta of 1.16. The company’s 50-day moving average price is $68.16 and its 200 day moving average price is $60.90. Pentair has a fifty-two week low of $38.55 and a fifty-two week high of $71.82. The company has a quick ratio of 0.77, a current ratio of 1.48 and a debt-to-equity ratio of 0.72.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Pentair had a net margin of 11.82% and a return on equity of 22.39%. Pentair’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $1.02 EPS. Sell-side analysts anticipate that Pentair will post 3.74 earnings per share for the current year.

Insider Transactions at Pentair

In other news, CEO John L. Stauch sold 32,596 shares of Pentair stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $71.42, for a total value of $2,328,006.32. Following the transaction, the chief executive officer now directly owns 7,690 shares of the company’s stock, valued at $549,219.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNR. Caisse DE Depot ET Placement DU Quebec purchased a new position in Pentair during the first quarter valued at approximately $49,000. Ancora Advisors LLC purchased a new position in Pentair during the first quarter valued at approximately $56,000. UniSuper Management Pty Ltd bought a new stake in Pentair in the second quarter worth approximately $78,000. Belpointe Asset Management LLC increased its stake in shares of Pentair by 248.5% during the 1st quarter. Belpointe Asset Management LLC now owns 1,882 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 1,342 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Pentair during the 1st quarter valued at $190,000. 88.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on PNR shares. Citigroup boosted their price target on shares of Pentair from $70.00 to $74.00 in a research report on Monday, July 10th. Mizuho boosted their price target on shares of Pentair from $65.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Royal Bank of Canada boosted their price target on shares of Pentair from $63.00 to $74.00 in a research report on Friday, July 28th. TD Cowen boosted their price target on shares of Pentair from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 16th. Finally, Barclays boosted their price target on shares of Pentair from $70.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.20.

Pentair Company Profile

Pentair plc provides various water solutions worldwide. The company operates through three segments: Pool, Water Solutions, Industrial & Flow Technologies. It 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 use in residential whole home water filtration, drinking water filtration, water softening solutions, commercial total water management and filtration, and foodservice operations.