Pentair plc (NYSE:PNR) Raises Dividend to $0.25 Per Share

Pentair plc (NYSE:PNR) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Stockholders of record on Friday, January 24th will be paid a dividend of 0.25 per share by the industrial products company on Friday, February 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from Pentair’s previous quarterly dividend of $0.23.

Pentair has increased its dividend by an average of 5.0% per year over the last three years. Pentair has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pentair to earn $4.88 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 18.9%.

Pentair Stock Down 4.1 %

PNR opened at $101.17 on Thursday. Pentair has a fifty-two week low of $68.08 and a fifty-two week high of $110.71. The company has a market capitalization of $16.72 billion, a P/E ratio of 25.29, a P/E/G ratio of 1.91 and a beta of 1.20. The stock has a fifty day moving average of $103.73 and a 200-day moving average of $91.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. On average, equities analysts expect that Pentair will post 4.28 EPS for the current year.

Insider Activity at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the sale, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. TD Cowen boosted their price target on Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Mizuho raised their target price on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, UBS Group upped their price target on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.38.

About Pentair

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.