Pentair plc (NYSE:PNR) to Issue $0.25 Quarterly Dividend

Pentair plc (NYSE:PNR) announced a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Investors of record on Friday, April 18th will be paid a dividend of 0.25 per share by the industrial products company on Friday, May 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, April 17th.

Pentair has raised its dividend by an average of 5.1% annually over the last three years. Pentair has a payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pentair to earn $5.27 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 19.0%.

Pentair Stock Up 1.3 %

NYSE:PNR traded up $1.24 during trading hours on Wednesday, hitting $94.58. 139,327 shares of the stock traded hands, compared to its average volume of 1,335,026. The firm has a 50 day moving average price of $100.00 and a 200 day moving average price of $98.34. The firm has a market cap of $15.63 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.87 and a beta of 1.20. Pentair has a fifty-two week low of $72.63 and a fifty-two week high of $110.71. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.06. The firm had revenue of $972.90 million for the quarter, compared to analyst estimates of $970.95 million. Pentair had a return on equity of 20.94% and a net margin of 15.32%. Pentair’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 earnings per share. Equities research analysts anticipate that Pentair will post 4.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PNR has been the subject of several recent analyst reports. Northcoast Research upgraded Pentair from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Oppenheimer upped their target price on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. KeyCorp reissued a “sector weight” rating and issued a $115.00 price target on shares of Pentair in a research report on Monday, January 6th. Citigroup decreased their price objective on shares of Pentair from $126.00 to $119.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Stifel Nicolaus lowered their target price on shares of Pentair from $126.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

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.