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

Pentair plc (NYSE:PNR) declared a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Friday, July 19th.

Pentair has raised its dividend by an average of 5.0% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Pentair has a dividend payout ratio of 19.2% indicating that 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 Performance

PNR stock traded up $1.14 during midday trading on Tuesday, hitting $83.02. The stock had a trading volume of 1,361,494 shares, compared to its average volume of 1,618,919. The firm has a market capitalization of $13.78 billion, a price-to-earnings ratio of 21.78, a P/E/G ratio of 1.37 and a beta of 1.24. The stock has a 50-day simple moving average of $80.99 and a 200 day simple moving average of $72.79. Pentair has a 52 week low of $55.26 and a 52 week high of $85.81. 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 (NYSE:PNR) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $0.91 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that Pentair will post 4.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. TD Cowen raised their price objective on Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Mizuho raised their price objective on Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Oppenheimer boosted 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. Citigroup upped their price objective on shares of Pentair from $85.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, BNP Paribas began coverage on shares of Pentair in a research note on Tuesday, March 12th. They set a “neutral” rating and a $86.00 target price for the company. Five investment analysts have rated the stock with a hold rating and twelve have issued 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 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.