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

Pentair plc (NYSE:PNR) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Friday, July 19th will be given a dividend of 0.23 per share by the industrial products company on Friday, August 2nd. This represents a $0.92 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, July 19th.

Pentair has raised its dividend by an average of 5.0% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Pentair has a payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.4 %

NYSE PNR traded up $0.30 during trading hours on Wednesday, reaching $83.32. 190,682 shares of the company traded hands, compared to its average volume of 1,612,575. The stock has a market capitalization of $13.83 billion, a PE ratio of 22.08, a PEG ratio of 1.37 and a beta of 1.24. The company has a 50 day moving average of $81.12 and a two-hundred day moving average of $72.93. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Pentair has a 12 month low of $55.26 and a 12 month high of $85.81.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. Pentair’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. As a group, equities analysts expect that Pentair will post 4.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $91.00 target price on shares of Pentair in a report on Friday, March 22nd. Stifel Nicolaus boosted their target price on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. TD Cowen boosted their price objective on Pentair from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Oppenheimer lifted their target price on Pentair from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, UBS Group raised their price objective on shares of Pentair from $83.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.