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

Pentair plc (NYSE:PNR) announced a quarterly dividend on Monday, February 19th, RTT News reports. Investors of record on Friday, April 19th will be paid a dividend of 0.23 per share by the industrial products company on Friday, May 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Thursday, April 18th.

Pentair has raised its dividend 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 19.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pentair to earn $4.74 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 19.4%.

Pentair Trading Down 0.4 %

PNR stock opened at $80.03 on Wednesday. Pentair has a twelve month low of $51.38 and a twelve month high of $85.81. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $79.76 and its two-hundred day simple moving average is $71.24.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. The firm had revenue of $984.60 million during the quarter, compared to analysts’ expectations of $975.36 million. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 EPS. As a group, analysts anticipate that Pentair will post 4.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PNR shares. KeyCorp upped their target price on Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. BNP Paribas began coverage on Pentair in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 target price on the stock. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Mizuho upped their price target on shares of Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, UBS Group lifted their price objective on shares of Pentair from $72.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Five research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.33.

Institutional Investors Weigh In On Pentair

Institutional investors have recently added to or reduced their stakes in the stock. Harbour Investments Inc. lifted its position in Pentair by 2.3% during the 4th quarter. Harbour Investments Inc. now owns 6,160 shares of the industrial products company’s stock worth $448,000 after acquiring an additional 141 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in shares of Pentair by 3.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 3,928 shares of the industrial products company’s stock worth $274,000 after purchasing an additional 145 shares during the period. Brinker Capital Investments LLC lifted its holdings in shares of Pentair by 3.5% during the first quarter. Brinker Capital Investments LLC now owns 5,995 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 204 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Pentair by 1.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,984 shares of the industrial products company’s stock valued at $607,000 after buying an additional 207 shares during the last quarter. Finally, Moors & Cabot Inc. increased its holdings in Pentair by 1.9% in the 1st quarter. Moors & Cabot Inc. now owns 11,408 shares of the industrial products company’s stock worth $618,000 after buying an additional 214 shares during the period. Institutional investors own 92.37% of the company’s stock.

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.