Pentair PLC. (PNR) Raises Dividend to $0.35 Per Share
Pentair PLC. (NYSE:PNR) declared a quarterly dividend on Tuesday, December 5th, Zacks reports. Shareholders of record on Friday, January 26th will be paid a dividend of 0.35 per share by the industrial products company on Friday, February 9th. This represents a $1.40 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, January 25th. This is a positive change from Pentair’s previous quarterly dividend of $0.35.
Pentair has increased its dividend payment by an average of 11.8% per year over the last three years and has increased its dividend every year for the last 40 years. Pentair has a dividend payout ratio of 39.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pentair to earn $3.95 per share next year, which means the company should continue to be able to cover its $1.38 annual dividend with an expected future payout ratio of 34.9%.
Shares of Pentair (PNR) traded down $0.61 during midday trading on Wednesday, reaching $68.55. The company’s stock had a trading volume of 736,900 shares, compared to its average volume of 984,468. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.59. The firm has a market capitalization of $12,559.28, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41. Pentair has a 12-month low of $55.76 and a 12-month high of $71.76.
Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.02. Pentair had a return on equity of 13.39% and a net margin of 12.50%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. equities research analysts forecast that Pentair will post 3.53 EPS for the current year.
Several research analysts have recently issued reports on the company. KeyCorp reaffirmed a “buy” rating and issued a $77.00 price objective on shares of Pentair in a research note on Thursday, October 12th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $67.00 price objective on shares of Pentair in a research note on Wednesday, October 4th. Cowen reaffirmed an “underperform” rating and issued a $61.00 price objective (up previously from $59.00) on shares of Pentair in a research note on Monday, October 2nd. Zacks Investment Research downgraded Pentair from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Robert W. Baird upped their price objective on Pentair from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $70.67.
In related news, Director Ronald Merriman sold 5,200 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $67.00, for a total value of $348,400.00. Following the sale, the director now directly owns 21,538 shares in the company, valued at $1,443,046. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Trian Fund Management, L.P. sold 183,661 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $67.60, for a total value of $12,415,483.60. Following the completion of the sale, the director now owns 1,122 shares in the company, valued at $75,847.20. The disclosure for this sale can be found here. Insiders sold 217,632 shares of company stock worth $14,783,286 over the last quarter. 9.90% of the stock is currently owned by company insiders.
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Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.
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