Pentair plc Declares Quarterly Dividend of $0.23 (NYSE:PNR)

by · The Markets Daily

Pentair plc (NYSE:PNR – Get Free Report) declared a quarterly dividend on Monday, September 23rd, Zacks reports. Shareholders of record on Friday, October 18th will be given a dividend of 0.23 per share by the industrial products company on Friday, November 1st. This represents a $0.92 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, October 18th.

Pentair has increased its dividend by an average of 5.0% annually over the last three years. Pentair has a dividend payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pentair to earn $4.83 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 19.0%.

Pentair Stock Up 1.0 %

PNR opened at $99.48 on Thursday. The firm has a market cap of $16.52 billion, a P/E ratio of 26.46, a PEG ratio of 1.74 and a beta of 1.20. The business’s fifty day simple moving average is $90.75 and its 200 day simple moving average is $84.20. Pentair has a 52 week low of $57.18 and a 52 week high of $99.95. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51.

Pentair (NYSE:PNR – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.08. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. As a group, equities research analysts anticipate that Pentair will post 4.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Stifel Nicolaus increased their price target on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp increased their target price on Pentair from $97.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. The Goldman Sachs Group lifted their price target on Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Oppenheimer increased their price objective on shares of Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.27.

Check Out Our Latest Stock Analysis on PNR

Pentair Company Profile

(Get Free Report)

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.

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