Pentair plc (NYSE:PNR) Plans Quarterly Dividend of $0.27

Pentair plc (NYSE:PNR) announced a quarterly dividend on Monday, May 4th. Stockholders of record on Friday, July 24th will be paid a dividend of 0.27 per share by the industrial products company on Friday, August 7th. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, July 24th.

Pentair has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Pentair has a dividend payout ratio of 20.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pentair to earn $5.86 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 18.4%.

Pentair Trading Up 1.0%

NYSE:PNR opened at $77.88 on Tuesday. Pentair has a 12 month low of $77.02 and a 12 month high of $113.95. The company has a current ratio of 1.88, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $90.55 and its 200 day moving average is $99.81. The stock has a market capitalization of $12.59 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 1.34 and a beta of 1.10.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.05. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Pentair had a return on equity of 21.92% and a net margin of 15.98%.Pentair’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 earnings per share. Sell-side analysts expect that Pentair will post 5.35 earnings per share for the current year.

Wall Street Analyst Weigh In

PNR has been the subject of several research reports. Oppenheimer cut their price target on Pentair from $122.00 to $115.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. TD Cowen dropped their price objective on shares of Pentair from $90.00 to $75.00 and set a “sell” rating on the stock in a report on Wednesday, April 29th. JPMorgan Chase & Co. cut their target price on shares of Pentair from $132.00 to $124.00 and set an “overweight” rating for the company in a research report on Friday, January 16th. Bank of America reduced their target price on shares of Pentair from $100.00 to $88.00 and set an “underperform” rating for the company in a research note on Monday, April 20th. Finally, Barclays lowered their price target on shares of Pentair from $95.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $107.86.

Pentair Company Profile

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.