Pentair plc to Issue Quarterly Dividend of $0.21 (NYSE:PNR)

Pentair plc (NYSE:PNRGet Rating) announced a quarterly dividend on Monday, May 16th, RTT News reports. Shareholders of record on Friday, July 22nd will be paid a dividend of 0.21 per share by the industrial products company on Friday, August 5th. This represents a $0.84 dividend on an annualized basis and a yield of 1.69%.

Pentair has raised its dividend payment by an average of 15.2% per year over the last three years and has raised its dividend annually for the last 46 consecutive years. Pentair has a dividend payout ratio of 21.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pentair to earn $3.91 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 21.5%.

Shares of PNR traded down $0.41 during trading on Monday, reaching $49.61. The company’s stock had a trading volume of 38,290 shares, compared to its average volume of 1,519,472. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.28 and a beta of 1.11. The company has a quick ratio of 0.87, a current ratio of 1.52 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $53.59 and a two-hundred day moving average of $63.11. Pentair has a twelve month low of $48.24 and a twelve month high of $80.40.

Pentair (NYSE:PNRGet Rating) last released its earnings results on Thursday, April 21st. The industrial products company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.81 by $0.04. The company had revenue of $999.60 million during the quarter, compared to analysts’ expectations of $948.83 million. Pentair had a return on equity of 24.17% and a net margin of 13.90%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. As a group, equities analysts forecast that Pentair will post 3.75 EPS for the current fiscal year.

Several equities analysts have recently commented on PNR shares. Royal Bank of Canada increased their target price on Pentair from $57.00 to $58.00 and gave the company a “sector perform” rating in a research note on Friday, April 22nd. Morgan Stanley reduced their target price on Pentair from $51.00 to $50.00 and set an “underweight” rating for the company in a research note on Friday, April 22nd. StockNews.com assumed coverage on Pentair in a research note on Thursday, March 31st. They set a “hold” rating for the company. Cowen dropped their price target on Pentair from $85.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, April 22nd. Finally, Stifel Nicolaus dropped their target price on Pentair from $67.00 to $57.00 and set a “hold” rating on the stock in a research report on Monday, April 18th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $73.88.

Several large investors have recently added to or reduced their stakes in PNR. Zullo Investment Group Inc. purchased a new stake in Pentair in the 4th quarter worth about $35,000. Ancora Advisors LLC purchased a new stake in shares of Pentair in the first quarter worth approximately $56,000. NEXT Financial Group Inc boosted its holdings in shares of Pentair by 56.9% during the fourth quarter. NEXT Financial Group Inc now owns 1,892 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 686 shares during the period. Forum Financial Management LP purchased a new position in Pentair during the fourth quarter valued at approximately $204,000. Finally, Lumature Wealth Partners LLC acquired a new position in Pentair in the 1st quarter valued at approximately $213,000. Institutional investors and hedge funds own 94.70% of the company’s stock.

Pentair Company Profile (Get Rating)

Pentair plc provides various water solutions worldwide. It operates through Consumer Solutions; and Industrial & Flow Technologies segments. 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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Dividend History for Pentair (NYSE:PNR)

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