Pentair plc (NYSE:PNR) Plans $0.23 Quarterly Dividend

Pentair plc (NYSE:PNR) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders 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 dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, July 19th.

Pentair has increased its dividend payment by an average of 5.0% annually over the last three years and has increased its dividend every year for the last 6 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 Up 0.6 %

PNR stock traded up $0.46 on Wednesday, hitting $83.48. 146,878 shares of the company’s stock were exchanged, compared to its average volume of 1,611,765. The firm has a 50 day moving average price of $81.12 and a two-hundred day moving average price of $72.93. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.90. Pentair has a 12-month low of $55.26 and a 12-month high of $85.81. The stock has a market cap of $13.86 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 1.37 and a beta of 1.24.

Pentair (NYSE:PNR) last issued its quarterly earnings results 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 company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts expect that Pentair will post 4.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PNR shares. Northcoast Research raised shares of Pentair from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Monday, April 15th. TD Cowen lifted their price objective on Pentair from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Citigroup upped their target price on Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada lifted their price target on Pentair from $101.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Mizuho raised their price objective on shares of Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Pentair presently has an average 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.