Pentair plc Plans Quarterly Dividend of $0.20 (NYSE:PNR)

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Pentair plc (NYSE:PNR) announced a quarterly dividend on Tuesday, May 4th, RTT News reports. Shareholders of record on Friday, July 23rd will be given a dividend of 0.20 per share by the industrial products company on Friday, August 6th. This represents a $0.80 annualized dividend and a yield of 1.20%.

Pentair has decreased its dividend by 44.9% over the last three years and has raised its dividend every year for the last 45 years. Pentair has a dividend payout ratio of 27.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pentair to earn $2.69 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 29.7%.

NYSE:PNR traded up $1.05 during mid-day trading on Tuesday, reaching $66.40. The company’s stock had a trading volume of 1,117,881 shares, compared to its average volume of 1,081,249. Pentair has a twelve month low of $31.50 and a twelve month high of $66.60. The company’s fifty day simple moving average is $62.54 and its two-hundred day simple moving average is $56.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.18 and a quick ratio of 0.69. The stock has a market cap of $11.04 billion, a P/E ratio of 31.56, a P/E/G ratio of 2.64 and a beta of 1.19.

Pentair (NYSE:PNR) last released its earnings results on Thursday, April 22nd. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.20. The firm had revenue of $865.90 million during the quarter, compared to the consensus estimate of $773.01 million. Pentair had a net margin of 11.87% and a return on equity of 21.27%. Pentair’s revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 earnings per share. Sell-side analysts expect that Pentair will post 2.43 EPS for the current fiscal year.

Several equities research analysts have issued reports on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on shares of Pentair from $73.00 to $78.00 in a research note on Friday, April 23rd. Zacks Investment Research upgraded Pentair from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Tuesday, April 27th. UBS Group boosted their price objective on Pentair from $50.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, January 15th. Barclays increased their target price on Pentair from $55.00 to $57.00 and gave the company an “underweight” rating in a research note on Tuesday, April 6th. Finally, Oppenheimer boosted their price target on Pentair from $57.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, January 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $59.27.

About Pentair

Pentair plc provides various smart water solutions worldwide. It operates through two segments, Consumer Solutions; and Industrial & Flow Technologies. 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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